Dow Closes at New Record

New York (AP) - On the third-to-last trading day of the year, the Dow is still rewriting the record books, breaking past the 12,500 mark for the first time.

At the final bell, the blue chips were up almost 103 points, to a new record close of 12,510. And that's about nine points below the intraday high.

Advancers overwhelmingly led decliners on the New York Stock Exchange, where volume was 1.6 billion shares.

All the other major indexes were higher, as well.

The NASDAQ closed at 2,431, up more than 17 points. And the S&P 500 gained close to ten points, closing at 1,426.

Traders say Wednesday's activity came from bargain hunters, as well as fund managers making last-minute additions to their portfolios. Good news on November new home sales also helped things along.

Copyright 2006 by the Associated Press. All rights reserved.