Dow closes closes at record high again

Zeebiz Bureau

New York: A day after it broke its own record of October 2007, the Dow Jones industrial average edged up to set a new high.

The Dow got 42.47 points up, or 0.3 percent, to close at 14,296.24. It was helped by a positive job market report that helped the stock market to go up and pushed bond prices lower.

The Dow industrial average closed at a record high on Tuesday, backed by China's economic growth targets and an increase in European retail sales.

It soared from the opening bell, peaked as much as 158 points and reached 14,286, an increase of 0.89 percent, breaking its own record high set in October 2007.

Also, London's blue-chip index hit its highest level since January 2008 on Tuesday as optimism for the powerhouse Chinese and US economies triggered a rally in markets around the world.

The FTSE 100 Index also surged by 86.3 points to close at 6432 — its highest level since January 2, 2008, when it closed at 6479.4.

In other trading, the Standard & Poor's 500 index grew 1.67 points, or 0.1 percent, to 1,541.46. Nasdaq slumped 1.77, less than 0.1 percent, to 3,222.36.

With Agency Inputs