Business

Dow reaches another record high

Traders work on the floor of the New York Stock Exchange.
AP File
Traders work on the floor of the New York Stock Exchange.

NEW YORK (AP) — The Dow Jones industrial average is closing at another record high, driven by a surge in materials companies.

The Dow gained almost 60 points to 14,673 Tuesday, an increase of 0.4 percent. The Dow most recently set a record a week ago. It’s up 12 percent this year.

The Standard & Poor’s 500 rose five points, or 0.4 percent, to close at 1,568. That’s less than two points from the record high the index reached last week.

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The Nasdaq rose 15, or 0.5 percent, to 3,237.

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Materials stocks led the gains following a surge in prices for commodities like copper. Cliffs Natural Resources jumped 9 percent.

Three stocks rose for every two that fell on the New York Stock Exchange. Trading volume was relatively light at 3.2 billion shares.