BUSINESS

Dow Jones industrial average closes at another record higher, driven by commodities rally

04/09/2013 04:16 EDT | Updated 06/09/2013 05:12 EDT
NEW YORK, N.Y. - The Dow Jones industrial average is closing at another record high, driven by a surge in materials companies.

The Dow gained almost 60 points to 14,673 Tuesday, an increase of 0.4 per cent. The Dow most recently set a record a week ago. It's up 12 per cent this year.

The Standard & Poor's 500 rose five points, or 0.4 per cent, to close at 1,568. That's less than two points from the record high the index reached last week.

The Nasdaq rose 15, or 0.5 per cent, to 3,237.

Materials stocks led the gains following a surge in prices for commodities like copper. Cliffs Natural Resources jumped 9 per cent.

Three stocks rose for every two that fell on the New York Stock Exchange. Trading volume was relatively light at 3.2 billion shares.