The Dow Jones Industrial Average’s rally to fresh record highs Wednesday is belying the negative breadth in the broader stock market. The number of declining stocks is outnumbering advancers by a 1,613 to 1,274 score on the NYSE, and by a 3,249 to 2,938 margin on the Nasdaq exchange. Meanwhile, the Dow was up 23 points, with 18 of its 30 components gaining ground, led by Caterpillar Inc.’s 2.4% jump. Among the other broader market indexes, the S&P 500 was down 0.1%, the Nasdaq Composite Index fell 0.4% and the Russell 2000 Index tacked on 0.2%.
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