Dow opens at record high

Written By limadu on Selasa, 02 April 2013 | 22.16

NEW YORK (CNNMoney)

All three major indexes opened about 0.4% higher, with the Dow Jones industrial average hitting a record intraday high of 14,629.

It's been a solid 2013 for stocks: Even with a slight retreat Monday, all three major indexes are still up between 7% and 11% for the year.

Though stocks had a strong open Tuesday, trading could be quiet with little on the corporate or economic docket.

Related: Fear & Greed Index stuck in greed

At 10 a.m. ET, the Census Bureau will publish data on factory orders for February, following an underwhelming report on U.S. manufacturing Monday.

Major automakers, including Ford (F, Fortune 500) and GM (GM, Fortune 500), are also set to release their monthly sales figures Tuesday. Forecasts are for another strong month of sales, with some experts anticipating the best sales month in five years.

U.S. stocks started the second quarter with a modest pullback Monday.

Related: Expect the bond bubble to fizzle, not pop

Shares of health-care firms including Humana (HUM, Fortune 500), United Health (UNH, Fortune 500) and Aetna (AET, Fortune 500) rose between 4% and 9% after the government announced a 3.3% increase in Medicare Advantage rates for next year, rather than the 2.3% cut that had been floated previously.

Hewlett-Packard (HPQ, Fortune 500) shares slid nearly 6% after Goldman Sachs downgraded the firm to "sell." Goldman also kicked Apple (AAPL, Fortune 500) off its "conviction buy" list and cut the price target to $575 from $600. Still, Goldman is retaining its "buy" rating for Apple, whose shares were up about 0.8% Tuesday.

Related story: CNNMoney's Hot Stocks

European markets rose slightly in morning trading, while Asian markets ended mixed. The Hang Seng added 0.3% while the Nikkei dropped 1.1% and the Shanghai Composite lost 0.3%. To top of page

First Published: April 2, 2013: 9:51 AM ET


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