Analyst’s viewpoint
Despite the market’s recent string of record highs and the Dow’s latest milestone, stocks can still grind higher as long as the economy continues to expand and companies increase revenue, said Quincy Krosby, chief market strategist at Prudential Financial.
“Overall, the underpinning for the market is solid,” Krosby said. “You have global growth picking up the way it has over the last quarter, it’s an indication that demand is picking up as well, and it’s why you have global markets doing well.” after announcing that it’s entered a prescription benefits management deal with CVS. Anthem shares added $4.53 to $191.79. CVS rose $1.47, or 2 percent, to $74.10.
The Nielsen company climbed 4.2 percent after the long-time tracker of TV viewership said it now has a way to collect details on the number of people who watch programs on streaming video services like Netflix and Amazon. Nielsen said that eight television networks and studios, including ABC and NBC, have already subscribed to its new service. The stock rose $1.69 to $41.69.
Electronic Arts slid 2.4 percent after the video game company said it will postpone the release of an upcoming “Star Wars” game to make changes. The game was scheduled to be released next year or in early 2019. EA is also closing down its Visceral Games studio. Shares lost $2.82 to $113.16.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.34 percent from 2.30 percent late Tuesday.