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Thursday
Feb282013

Dow Closes Lower, Just Misses Record High

Hemera/Thinkstock(NEW YORK) -- It was close, but not quite. The Dow continued to inch its way toward a record high Thursday, coming within 16 points of the benchmark before calling it a session down 20.88 points at 14,054.49. The all-time high, set back in October 2007, is 14,164.53.

The Nasdaq lost 2.07 points at 3,160.19. The S&P gave up just 1.31 points to close at 1,514.68.
 
JC Penney sales plunged after the department store chain reported its fourth straight massive quarterly loss.  Things are better for its competitor, Sears, which reported a narrower fiscal fourth-quarter loss and stronger-than-expected adjusted earnings.
 
Meanwhile, the Labor Department says the number of Americans who applied for unemployment benefits dropped by 22,000 last week.

Copyright 2013 ABC News Radio