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| Version 1 | Version 2 |
|---|---|
| Dow Jones closes at record high | Dow Jones closes at record high |
| (about 5 hours later) | |
| The Dow Jones index set a new all-time record, to close at its highest level in more than six years, as oil prices continued to fall. | The Dow Jones index set a new all-time record, to close at its highest level in more than six years, as oil prices continued to fall. |
| The stock index ended at 11,727.34, beating the closing record set in 2000. | |
| Oil prices fell to their lowest level since February, on news of increased oil stocks and lower demand. | |
| Economists say falling oil prices could boost buyer spending and buoy corporate profits. The record followed an intraday all-time high of 11,758.95. | |
| The Dow Jones Industrial Average, an index of blue chip firms, has been hovering around its record close level of 11,722.98 recently, which occurred in January 2000. | The Dow Jones Industrial Average, an index of blue chip firms, has been hovering around its record close level of 11,722.98 recently, which occurred in January 2000. |
| Correction warning | Correction warning |
| It is a psychological boost. As far as the market goes it is a pretty narrow gauge of the stock market Scott Wren, analyst with AG Edwards & Sons | It is a psychological boost. As far as the market goes it is a pretty narrow gauge of the stock market Scott Wren, analyst with AG Edwards & Sons |
| Despite the rise, analysts reactions remained tempered, warning that it remains far from clear which direction the US economy will head. | Despite the rise, analysts reactions remained tempered, warning that it remains far from clear which direction the US economy will head. |
| "I think we break out to the all-time high, then we could get a blow-off correction off of that," said Doug Johnston of Adams Harkness. | "I think we break out to the all-time high, then we could get a blow-off correction off of that," said Doug Johnston of Adams Harkness. |
| Scott Wren, an analyst with AG Edwards & Sons echoed this: "It is a psychological boost. As far as the market goes it is a pretty narrow gauge of the stock market." | Scott Wren, an analyst with AG Edwards & Sons echoed this: "It is a psychological boost. As far as the market goes it is a pretty narrow gauge of the stock market." |
| Lower petrol prices, coupled with greater confidence in the job sector, helped boost consumer confidence unexpectedly in September. | Lower petrol prices, coupled with greater confidence in the job sector, helped boost consumer confidence unexpectedly in September. |
| Light US crude oil settled at $58.68 a barrel, a fall of $2.35, continuing Monday's drop. | Light US crude oil settled at $58.68 a barrel, a fall of $2.35, continuing Monday's drop. |
| Investors have welcomed the Federal Reserve's decision to freeze interest rates at 5.25% for two successive months. | Investors have welcomed the Federal Reserve's decision to freeze interest rates at 5.25% for two successive months. |
| Some analysts say this is a sign that inflation is under control. | Some analysts say this is a sign that inflation is under control. |
| When the index last hit its peak, the internet boom was in full swing. But the index later dropped to 7,286.27 in October 2002, before recovering. | When the index last hit its peak, the internet boom was in full swing. But the index later dropped to 7,286.27 in October 2002, before recovering. |