CLOSING BELL

Dow 11144.57  +21.46, Nasdaq 2515.69  +10.83, S&P 1211.67  +1.02 

The market continued its climb today after UPS (UPS) 68.89 +3.44, +5.26% reported earnings that beat estimates after yesterday’s close.  This helped the Dow Jones Transportation Index gain +1.7% to a new 52-week high.

Today’s gain was the sixth in a row, making it the best streak of gains by the S&P 500 in one month.

The dollar put a cap on today’s gains. It closed +0.4% higher as the euro was pressured due to concerns about the ability of Greece to service its debt and news that Greece lowered expectations for the amount it hopes to raise from a global dollar bond.

China reported GDP growth of +11.9% which was better than economist had expected.  But traders became worried that the country could tighten their monetary policy which could impact the global economic recovery.

Weekly initial jobless claims came in higher than expected at 484,000, continuing claims were also worse than economist expected 4.64 million.

Advancing Sectors: Industrials +0.9%, Tech +0.5%, Consumer Discretionary +0.4%

Declining Sectors: Financials -0.5%, Consumer Staples -0.3%, Health Care -0.3%, Telecom -0.2%, Utilities -0.2%

Unchanged: Materials, Energy