Stocks Climb to New Highs, Dow Jones Returns to 17k Milestone

TheStreet

Stocks are climbing higher. The Dow Jones Industrial is back above 17,000. The S&P 500 is hitting a record high. Existing home sales are at their highest pace of the year. The National Association of Realtors reported total July sales jumped to a seasonally adjusted annualized rate of 5.15 million. Bank of America (BAC) stock is gaining after paying a record settlement with the U.S. government for its involvement in the mortgage crisis. Family Dollar (FDO) formally rejected Dollar General's (DG) takeover bid. Family Dollar says there 'significant antitrust issues' with that offer. Family Dollar reaffirmed its support for Dollar Tree's (DLTR) buyout offer. Dollar Tree Stock is falling after reporting earnings before the bell showing Q2 profit fell on costs related to its planned takeover of Family Dollar. After the bell, we'll get quarterly earnings results from Gap (GPS), Intuit (INTU) and Salesforce.com (CRM).