The Dow closed above 18,000 for the first time since April. Declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals. Bobbi Rebell reports.
The Dow ended above 18,000 for the first time since April. Declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals. Ross Gerber of Gerber Kawasaki: (SOUNDBITE) ROSS GERBER, PRESIDENT AND CEO, GERBER KAWASAKI, (ENGLISH) SAYING: "What we are looking for now is that the market could move to 2200 on the S&P, so we could see another five percent gain, let's say, on the stock market in the shorter term. But we do think that earnings have to improve." Verizon says the seven-week strike by its wireline workers will hurt the company's second-quarter earnings. Shares fell modestly. Lululemon stock on the rise. First-quarter sales rose sharply, beating forecasts thanks to better-managed inventory, new store openings and online sales. Tesla is working exclusively with Panasonic to supply batteries for the Model 3, its first mass-market car. In Europe, stocks were mostly lower after two straight days of gains, but the FTSE 100 moved higher.