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Dow Closes At All-Time High, Beating 2007 Record

By: AP
By: AP
(AP) Dow average surges to record high, driven by higher profits; recovers ground lost in recession

www.cbsnews.com

March 5, 2013

NEW YORK (AP)— 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 125.95 points, or 0.9 percent, to close at 14,253.77 Tuesday, beating its previous record by 89 points.

The index is up 8.8 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 14.59 points, or 1 percent, to 1,539.79. The S&P is also within striking distance of its record close of 1,565.

The Nasdaq gained 42.10 points, or 1.3 percent, to 3,224.13.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume was light, 3.3 billion shares.

Story copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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