Midday Report: Citi Backs Costco; Dow Continues March to 20,000

Stocks climbed as the Dow Jones Industrial Average continued its march toward the psychologically important 20,000 milestone, a level it flirted with last week.
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The Dow Jones Industrial Average continued its march toward the psychologically important 20,000 milestone, a level it flirted with last week. The Dow is roughly 100 points away. Costco (COST) - Get Report was upgraded to BUY from NEUTRAL at Citi. Analysts said short-term headwinds were fading and that its valuation had become more attractive. Deutsche Bank (DB) - Get Report reportedly nears a penalty settlement with the U.S. Department of Justice over an investigation into whether it intentionally misled investors in its sale of mortgage-backed securities. Regulators initially hit the bank with a $14 billion charge. Allied World Assurance (AWH) surged after Fairfax Financial Holdings agreed to an acquisition. Fairfax agreed to pay $4.9 billion in cash and stock for the Swiss insurer.