Even though there may have been some not so good news today, it didn't seem to bother investors.  People are seeing the positive and the Dow has hit yet another record close!  It doesn't appear to be slowing down either…

Wall Street shot higher Wednesday after investors shrugged off a mixed reading on the housing sector and focused on the positives: a jump in industrial output, a retreat in crude oil prices and new cash pouring into the stock market.

The Dow Jones industrials rose 103.69, or 0.8%, to 13,487.53, to its 23rd record close of the year. It also had a new trading high, 13,489.57.

Broader stock indicators also advanced. The Standard & Poor's 500 index gained 12.95, or 0.9%, to 1514.14, and the Nasdaq composite index rose 22.13, or 0.9%, to 2547.42.

Stocks initially slipped after Commerce Department data showed applications for building permits fell by the biggest amount in 17 years during April punctured an early rally. But they gradually regained strength, finding support from a Federal Reserve report that showed industrial output rose by more than expected in April, and a rebound in U.S. crude and gasoline inventories that caused crude oil prices to pull back.

News that billionaires Warren Buffett and Edward Lampert were upping their equity investments also gave investors confidence that stocks have further to climb, although the Dow has risen more than 1,300 points in the past two months.

You can view this USA Today article if you would like to read more:

http://www.usatoday.com/money/markets/2007-05-16-wall-street-wednesday_N.htm?csp=34

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