The Dow is closing at a record, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.
The Dow Jones industrial average rose 126 points, or 1 percent, to 14,253 Tuesday, beating its previous record by 89 points.
The index is up nearly 9 percent this year, capping a remarkable comeback. The Dow has more than doubled since hitting a 12-year low in March 2009.
The Standard & Poor’s 500 index rose 14 points, or 1 percent, to 1,539. The S&P is also within striking distance of its record close of 1,565.
The Nasdaq gained 42 points, or 1.3 percent, to 3,224.
Three stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 3.3 billion shares.
(AP)
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If inflation is account, it is about 1500 points under the high. Indeed, if inflation is taken into account, it hasn’t even caught up with the previous peak in 13 years ago. All you have is a bubble brought about massive deficits and in particularly, the Federal Reserve printing lots of money and making virtually free loans to banks.