Dow Closes at Record High as Stocks Power Higher

Even though shares of Proctor & Gamble fell, the Dow Jones Industrial Average reached another record high.

Author:: Anders Keitz
Publish date:: Oct 10, 2017 4:35 PM EDT

Stocks powered higher on Tuesday. The Dow closed at a record high, 22,830.68, while the Nasdaq and the S&P 500 also closed in the green.

Shares of Procter & Gamble Co. (PG) - Get Report fell slightly after CEO David Taylor said that shareholders had re-elected all incumbent directors. But activist investor Nelson Peltz said the results are "too close to call." Procter & Gamble and Peltz' Trian Partners have collectively spent more than an estimated $100 million on mailings, phone calls and advertisements to woo investors, according to Reuters. It could take days to certify the final vote tally.

American Airlines Group Inc. (AAL) - Get Report stock increased more than 4.5% after raising its third-quarter growth forecasts. The airline anticipates total revenue per available seat mile to climb by 0.5% to 1.5%, up from its previous target of flat to 1% higher. Capacity is expected to climb to 64.6 billion available seat miles, higher than 63.5 billion in the second quarter.

Express Scripts (ESRX) was down about 1.8% after agreeing to purchase medical benefit management company eviCore healthcare for $3.6 billion. Express expects the deal to close in the fourth quarter.

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