Dow, S&P 500, Nasdaq Jump to New Record Closes

For the S&P 500 and Nasdaq Comp, it was the third consecutive session that they closed at record highs.
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Stocks concluded a stellar week in style as the

Dow Jones Industrial Average

,

S&P 500

and

Nasdaq Composite Index

all closed at record highs.

For the S&P 500 and Nasdaq Comp, it was the third consecutive session that they closed at record highs.

The Dow's old closing high was 11,107.19. The biggest boost to the Dow was

American Express

(AXP) - Get Report

. American Express was up 4 5/8 to 137 3/4.

As for the bond market, it closed early today ahead of the long weekend. The 30-year Treasury bond posted a modest advance. Both the stock and bond markets are closed Monday.

On the economic front, the

Labor Department

reported

nonfarm payrolls

rose 268,000 in June, following a revised 5,000 decline in May. The unemployment rate rose to 4.3% in June from 4.2% in May. Average hourly earnings advanced 0.4% in June. Economists had expected nonfarm payrolls to rise 220,000 and for the unemployment rate to remain at 4.2%, according to a

Reuters

survey.

On the earnings warning front, this afternoon

Ryder System

(R) - Get Report

warned that it anticipates earnings per share for the second quarter will be in the range of 42 to 47 cents, below the current

First Call

nine-analyst estimate of 51 cents. The company blamed the shortfall primarily to lower-than-expected profitability in its integrated logistics and truck leasing businesses. Ryder was down 1 11/16, or 6.5%, to 24 3/8.

Merrill Lynch

downgraded Ryder yesterday to long-term accumulate from long-term buy.

On the

New York Stock Exchange

, advancers beat decliners 1,681 to 1,224 on 588 million shares. On the

Nasdaq Stock Market

, winners beat losers 2,312 to 1,627 on 847.7 million shares.

On the NYSE, 122 issues set new 52-week highs while 35 touched new lows. On the Nasdaq, 182 issues set new 52 week highs while new lows totaled 27.

On the Big Board,

Pfizer

(PFE) - Get Report

was most active, with 15.1 million shares changing hands. It was up 1 1/4 to 38 5/8.

On the Nasdaq,

Intel

(INTC) - Get Report

was most active, with 18.6 million shares changing hands. Intel was up 5/8 to 63 1/2.

Market data above are preliminary. Updated numbers and analysis will follow in the Market Roundup

Earlier...

2:52 p.m.: Dow, S&P 500, Nasdaq Continue Climb to New Record Closes

Heading into the final hour of trading for the week ahead of a long weekend, the

Dow Jones Industrial Average

,

S&P 500

and

Nasdaq Composite Index

were all trading above their closing record highs.

1:54 p.m.: Dow, S&P 500, Nasdaq on Track to Close at Record Highs

The

Dow Jones Industrial Average

,

S&P 500

and

Nasdaq Composite Index

are all trading above their closing record highs this afternoon as the enthusiasm in the market rolled on.

1:04 p.m.: Midday Musings: Looking to Take Records Into the Weekend, Wall Street Rallies

11:56 a.m.: Nasdaq Leads March Higher

Stocks and bonds were firm late this morning, with the

Nasdaq Composite Index

leading major market averages on the upside.

10:55 a.m.: Stocks Cling to Slight Gains

Major market averages were slightly (and I mean slightly) higher at midmorning in the wake of the June

employment report

.

9:56 a.m.: Stocks Open Modestly Higher

Stocks were up slightly in the wake of the release of the June

employment report

, while Treasuries were little changed.