Dow hits new peak as markets rally worldwide
The Dow Jones industrial average rose past its record to 14,286, the highest level since October 2007, driven by global market gains, strong U S housing data and renewed investor confidence. Analysts note resilience and shifting money into stock mutual funds amid a cautious outlook.
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Service firms show fastest February growth in a year
US service companies expanded in February at the fastest pace in a year with the ISM non manufacturing index rising to 56 from 55.2. The report notes higher sales and new orders, solid hiring, and expectations of continued consumer spending despite Social Security tax increases.
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Martha Stewart denies wrongdoing in JC Penney deal
Martha Stewart testified in New York State Supreme Court that she did nothing unethical in signing a 2011 deal to open shops in most JC Penney stores. She argued Macy’s breached its exclusive arrangement, aiming to expand her brand beyond Macy’s and into Penney outlets.
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