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Closing Bell: Credit Suisse to Cut Jobs; Dow and S&P 500 Hit All-Time High

The Dow's winning streak continued with the index closing higher for the 18th time in 22 sessions and clinching a record settlement for the third day in a row.

The Dow Jones Industrial Average's winning streak continued with the index closing higher for the 18th time in 22 sessions and clinching a record settlement for the third day in a row. The S&P also scored a record. Fitbit (FIT) moved slightly higher after announcing the acquisition of IP and personnel assets of smartwatch developer Pebble. The purchase should help the fitness tracker company ramp up development of third-party apps for its products. Credit Suisse (CS) climbed after announcing job cuts intended to cut costs. The bank will eliminate 6,000 positions, resulting in more than 1 billion Swiss francs in savings. Mylan (MYL) slumped alongside other health care stocks after disclosing restructuring plans. The drugmaker aims to streamline operations at global facilities, resulting in cuts to less than 10% of its total workforce.