Dow Jones higher for seventh day

The Dow Jones industrial average has closed higher for the seventh day in a row – the longest series of gains for the US index since July.

McDonald’s was the biggest riser of the 30 stocks in the Dow after reporting January sales that were higher than analysts expected.

Investors took in their stride a move by China’s central bank to control inflation, which could slow the country’s growth.

According to preliminary calculations, the Dow Jones industrial average rose 72 points, or 0.6%, to close at 12,233.

The Standard & Poor’s 500 index rose 6, or 0.4%, to 1,325. The Nasdaq composite index rose 13, or 0.5%, to 2,797.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was relatively light at 890 million shares.