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Dow breaks another record

The Dow Jones Industrial Average racks up its third record close of the week, buoyed by strong sales at the nation's retailers and optimism about earnings.

The Dow Jones Industrial Average racked up its third record close of the week today, buoyed by strong sales at the nation's retailers and optimism about earnings from financial services companies.

The Dow was up 112.39 points, or 1.11 percent, at 10,197.7, beating the record set yesterday.

The technology-laced Nasdaq composite index rose 28.96 points, or 1.14 percent, to 2,573.39, another record.

Yahoo, which reported better-than-expected profits after yesterday's close, was off 1.75 at 206-11.69.

"It's buy on the rumor, sell on the news," said Peter Coolidge, senior equities trader at Brean Murray, when asked why the stock wasn't more buoyant on the good report. The stock soared in the days prior to the earnings.

As previously reported, Yahoo posted a net income of $16.4 million, or 7 cents a share. Excluding one-time charges for research and development and other items, the company's net income was $25.1 million, or 11 cents a share, which was 3 cents higher than analysts' expectations of 8 cents a share, according to First Call.

Among other actively traded stock, Dell Computer was down 1.44 at 45 despite the company's announcement that personal computer industry demand looks strong and healthy, and Network Associates fell 1.25 to 14.75.

Reuters contributed to this report.

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