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National Business Digest



Published: Wed, October 4, 2006 @ 12:00 a.m.



NATION

Dow Jones' record closing

NEW YORK -- The Dow Jones industrial average finally reached new heights Tuesday, extending Wall Street's seven-year recovery with a record closing level after climbing into uncharted territory in trading earlier in the day. The index of 30 blue chip stocks ended the session at 11,727.34, wiping out the previous record of 11,722.98. Earlier, the Dow crossed its old trading high of 1,750.28, trading as high as 11,758.95.

Oil prices hit 7-month low

WASHINGTON -- Oil prices settled at a seven-month low below 59 a barrel Tuesday as rising global supplies, slack demand and a mild Atlantic hurricane season forced geopolitical worries to the back burner.Crude-oil futures have fallen by more than 4 in the past two days. The recent plunge in crude has dragged down the retail price of gasoline in the U.S., which now averages 2.31 a gallon nationwide, according to the Energy Department. Analysts say pump prices could drop by 10 cents or so in the weeks ahead.

Associated Press




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