The Ticker

Dow, S&P hit record highs in 'Santa' rally

The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs as the market delivered its fourth gain in as many trading days.

Pharmaceutical and technology stocks were among the big risers, while shares in energy companies fell sharply as the decline in oil prices deepened. Discouraging data on U.S. home sales failed to derail the "Santa" rally, as traders call a pre-Christmas advance.

The National Association of Realtors reported that sales of previously occupied homes fell 6.1 percent last month to a seasonally adjusted annual rate of 
4.93 million. That's the slowest pace in six months.

The Dow Jones industrial average rose 154.64, or 0.9 percent, to 17,959.44. Its last record close was 17,958.79 on Dec. 5.

The Nasdaq composite picked up 16.04 points, or 0.3 percent, to 4,781.42. The Standard & Poor's 500 index gained 7.89 points, or 0.4 percent, to 2,078.54. The S&P's most recent record close was 2,075.37, set on Dec. 5.

Gillette owner to sell soap brands

Procter & Gamble, owner of Boston-based Gillette, said it would sell soap brands Camay and Zest to Unilever for an undisclosed amount to focus on its faster-growing brands.

The deal includes the global sale of the Camay brand and the sale of the Zest brand outside of North America and the Caribbean, P&G said.

The company will also sell its Talisman facility in Mexico to Unilever. The facility has 170 employees.

P&G said in August that it would shed 80 to 100 slow-growing product lines to focus on about 80 brands, including Tide laundry detergents and Pampers diapers, which generate most of its revenue.

Carbonite moves downtown

Carbonite Inc., a provider of cloud and hybrid backup and recovery solutions for businesses, has opened its new headquarters in Lafayette City Center in Boston's Downtown Crossing. Carbonite's new 52,000-square-foot home will accommodate up to 400 employees.

The owner of Lafayette City Center is Boston-based the Abbey Group.

Today

 Commerce Department releases durable goods for November.

 Commerce Department releases third-quarter gross domestic product.

 Commerce Department releases personal income and spending for November.

 Commerce Department releases new home sales for November.

THE SHUFFLE

 Wentworth Institute of Technology announced today that it has named Associate Provost Charles Hotchkiss as the new dean of the College of Architecture, Design and Construction Management. Hotchkiss has extensive experience in higher education administration, including serving at Southern New Hampshire University.

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