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These 4 Key Stocks Boost Dow To New High; Small Caps Bounce Back

Key market indexes closed modestly higher Wednesday after paring some of their earlier gains. The Dow Jones industrial average hit a new high again, thanks to big moves from Apple, Boeing and Caterpillar.

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The Nasdaq led with a 0.3% gain, the Dow added 0.2% and the S&P 500 climbed 0.1%. Small caps shook off recent weakness as the Russell 2000 rallied 1%. Volume was higher on both the NYSE and Nasdaq in the stock market today, according to preliminary figures.

Private payrolls growth in September surged to 230,000 jobs, according to ADP, topping estimates. The Purchasing Managers Index and Institute for Supply Management, both for September, also beat consensus views. The bullish data pushed the 10-year Treasury yield to a seven-year high of 3.16%.

Banks, oil and machinery stocks were among the top sector gainers. But automakers, gold miners and utilities lagged.

Biggest upside movers on the Dow included Caterpillar (CAT), Boeing (BA) and Apple (AAPL). Intel (INTC) also weighed in with a 1.4% advance to pad its gains above its 50-day moving average, which it retook Tuesday.

Caterpillar rose 2.2%. It's been building the right side of a base that started back in mid-January. The left side high is 173.24, which implies a buy point of 174.34. But the stock carved a handle with a high of 157.72 to set up an earlier entry at 157.82, which Caterpillar cleared Wednesday.

Boeing has taken off this week. The IBD Leaderboard member cleared a 364.64 flat-base buy point last month, then broke out past a 374.58 conventional entry on Monday. The jet maker's shares, up 1.6% Wednesday, are near the top of a buy range from the latter entry.

Apple added 1.2% to mark a record high, though in below-average volume. Shares are nearly 20% extended from a 194.30 flat-base buy point cleared in August, so investors could lock in some gains here.

Over on the IBD 50, Trade Desk (TTD) and SVB Financial Group (SIVB) led with gains of more than 4% each. Trade Desk found support above its 50-day line to snap a four-session slide, while SVB reclaimed its 50-day line. Wingstop (WING) rose 4% as it remains near all-time highs.

Health stocks underperformed, though many remain near highs. Ligand Pharmaceuticals (LGND) and Masimo (MASI) fell about 3% apiece.

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