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News Summary: Dow edges toward record

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The Associated Press | February 12, 2013 05:27 PM EST | AP


CLOSING IN: The Dow edged closer to a record, closing above 14,000 for the second time this month. The index is within 1 percent of its record close.

NO KORS FOR ALARM: Luxury clothing and accessories retailer Michael Kors surged 9 percent to $62 after reporting earnings that surpassed analysts' forecasts. The company also raised its forecast for the year ending in March.

CONFIDENCE IS KEY: Confidence in the outlook for global growth has strengthened among asset managers in recent months, according to a Bank of America Merrill Lynch survey. The poll found that 59 percent of investors believe that the global economy will strengthen in the year ahead.