Daily Wrap: March 5, 2013 Tuesday, March 5, 4:12 PM ET
The markets kicked off the day on a positive note with the Dow later hitting an all-time high fueled by encouraging economic data.
The latest Non-Manufacturing ISM report on business shows better than expected growth in economic activity in the services sector, rising to 56. Economists were expecting a reading of 55.
Participating in today's rally was Qualcomm (NASDAQ:
QCOM) which raised its quarterly dividend to 35 cents a share, from 25 cents a share.
The chipmaker also introduced a new $5 billion stock repurchase program, sending shares higher today.
Bucking the positive trend was struggling retailer JCPenney (NYSE:
JCP) which led the S&P 500 laggards after an announcement that Vornado Realty Trust sold 10 million shares of the retailer's shares.
Tomorrow, we'll take a look at the ADP employment report as well as earnings from Staples (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Wrap: March 5, 2013
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