Dow at near record high
New York: The Dow industrials was near a record high on Wednesday due to an unexpected rise in August new home sales renewed optimism about consumer spending and the outlook for corporate profits. Sales of new U.S. homes unexpectedly rose 4.1 per cent in August, while durable goods orders slipped for a second month, declining 0.5 per cent. However a jump in crude prices late in the afternoon kept the S&P 500 and the Nasdaq from rising.

The Dow Jones industrial average gained 19.85 points, or 0.17 percent, to end at 11,689.24. The Standard & Poor's 500 Index rose just 0.25 of a point, or 0.02 per cent, to finish at 1,336.59. The Nasdaq Composite Index added 2.05 points, or 0.09 percent, to close at 2,263.39.

Shares of General Motors gained 2.8 per cent, or 87 cents, to $32.28 on the NYSE, after news that the world's automaker will continue talks about a possible alliance with Renault-Nissan. Their chief executives met in Paris. McDonald's Corp's shares rose 1.9 per cent, or 73 cents, to $39.79 after the company raised its annual dividend 49 per cent to $1 a share. The stock hit a fresh 6-year high of $40.03 earlier.

Advancers beat decliners on the NYSE by a ratio of 5 to 3, while on Nasdaq, gainers topped decliners by about 5 to 4.
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