Dow Sets Record at Open
NEW JERSEY 101.5
The Dow Jones industrial average set two record at the opening bell today.
The Dow hit 16,000 for the first time while the S+P topped 1,800. The Nassaq was less than 10 points from the 4,000 mark as well.
For every five shares on the decline, eight gained on the New York Stock Exchange, where 68 million shares traded as of 9:40 a.m. Eastern. Composite volume cleared 218 million reports CNBC.
Boeing led the blue-chips with over 250 orders for its 777 jet worth $100 billion.
CNBC credits optimism about ongoing stimulus from the Federal Reserve, anticipation of economic reports this week on retail sales and manufacturing to measure the health of the economy.
Stocks have been rising sharply this year as the U.S. economy improves, companies report bigger profits and the Federal Reserve keeps up its easy-money policies.
The S&P 500 index has risen for six weeks straight and is up 26 percent so far this year. A growing number of market watchers are calling for caution after the steep rise.
This is a breaking story. Check back for details.
- US stocks higher, S&P 500 clears 1,800; Dow hits 16,000 / CNBC
- Stocks Build on Record Highs; Dow Tops 16K / Fox Business Channel
The Associated Press contributed to this report.