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Dow Jones and S&P climb to new highs | Dow Jones and S&P climb to new highs |
(about 9 hours later) | |
New York's Dow Jones and S&P 500 share indexes have set new all-time highs on Wall Street. | |
The rallies mean the stock markets are returning to levels not seen since before the global financial crisis. | The rallies mean the stock markets are returning to levels not seen since before the global financial crisis. |
The Dow rose 89 points, to close at 14,662, after an earlier intraday high of about 14,684. | |
And the broader Standard & Poor's 500 closed at a record high of 1,570, suggesting investors are regaining confidence in the US economy. | |
The Dow has more than doubled in value since it plummeted to less than 6,550 points in the depth of the crisis in March 2009. | The Dow has more than doubled in value since it plummeted to less than 6,550 points in the depth of the crisis in March 2009. |
Tuesday's rally came after a US Department of Commerce report that showed new orders for manufactured goods rose 3% in February, topping predictions. | Tuesday's rally came after a US Department of Commerce report that showed new orders for manufactured goods rose 3% in February, topping predictions. |
And carmakers General Motors, Ford and Chrysler reported strong US monthly sales performances. | And carmakers General Motors, Ford and Chrysler reported strong US monthly sales performances. |
GM said "a strengthening economy and new products" were factors behind the result. | GM said "a strengthening economy and new products" were factors behind the result. |
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