New York - The Dow Jones Industrial Average reached its highest point of the year on Monday in anticipation of good news, as more than 100 companies were set to report third-quarter earnings this week. The Dow climbed back above 10,000 points. The blue-chip index passed the symbolic 10,000 mark last week for the first time in more than a year, but had fallen below it again by Friday.
The next wave of earnings is set to begin on Tuesday with the report of industrial giant Caterpillar. Strong profits by financial and technology firms helped push stocks higher last week.
The blue-chip Dow gained 96.28 points, or 0.96 per cent, to close at 10,092.19. The broader Standard and Poor's 500 Index gained 10.23 points, or 0.94 per cent, to 1,097.91. The technology-heavy Nasdaq Composite Index fell 19.52 points, or 0.91 per cent, to 2,176.32.
The US currency dropped against the euro to 66.92 euro cents from 67.09 euro cents on Friday and dropped against the Japanese currency to 90.64 yen from 90.89 yen.
