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July 21, 2016

Tech surge tips stock indexes to new highs

By STAN CHOE
AP Business Writer

NEW YORK — Stocks took another modest step further into record territory Wednesday after several companies reported profits that were stronger than expected, if not strong. Technology stocks led the way following an encouraging report from Microsoft.

Both the Standard & Poor's 500 index and Dow Jones industrial average set all-time highs, and the Dow marked its ninth consecutive day of gains. It's the longest winning streak for the measure of blue-chip stocks since 2013, and it's been a decidedly slow-and-steady one. All but one of those days had a gain of less than 1 percent.


 
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