Health insurers lead stocks higher on Wall Street

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Associated Press

Posted on April 2, 2013 at 3:02 PM

The Dow Jones industrial average touched another record high after reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening.

The Dow rose 89 points, or 0.6 percent, to close at 14,662.

The Standard & Poor's 500 rose eight points, or 0.5 percent, to 1,570. The Nasdaq rose 15, or 0.5 percent, to 3,254.

Smaller stocks didn't do as well. The Russell 2000 slipped four points, 0.5 percent, to 934.

Health insurers rose after the government released revised reimbursement rates for Medicare Advantage plans.

Airlines fell sharply. Delta Air Lines said revenue was hurt by government spending cuts and a technical glitch.

Rising and falling stocks were roughly matched on the New York Stock Exchange. Volume was lighter than usual, 3.3 billion shares.

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