Intrepid Potash sets all-time high

Shares of fertilizer producer Intrepid Potash Inc. set an all-time high on Tuesday, following Wall Street higher in afternoon trading.

The stock rose 57 cents to $73.80, after hitting $76.24 earlier in the session.

Intrepid's initial public offering was earlier this year. The company produces potash, or potassium chloride, a fertilizer that helps regulate plants' physiological functions.

Rising food consumption worldwide and continued demand for ethanol, which is made from corn, have driven demand for potash.

Elsewhere on Wall Street, many investors sought bargains among financial stocks, though concerns lingered over the impact of high fuel costs on corporate profits.

In afternoon trading, the Dow Jones industrial average rose 34.11 points to 11,876.47, while the Standard & Poor's 500 index rose 4.75 points to 1,322.75.