There was a major milestone on Wall Street Thursday as stocks set new records.
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 Dow Jones industrial average crossed 15,000 for the first time, and the Standard and Poor’s 500 index, a broader market measure, rose above 1,600.
The Dow closed at an all-time high Tuesday, beating the previous record it set in October 2007, before the financial crisis and the Great Recession.
A late afternoon rally pushed the stock market higher for only the second day this month.
The Dow Jones industrial average fell 170.89 points, or 1.5 percent, to close at 11,149.82. It had been up 85 points shortly after the opening bell.
The Dow Jones industrial average at one point was down more than 500 points. It’s now down 436 at 10,973.
Investors hoping for relief from last week’s volatility in the stock market found it Monday.
Even a survey showing Americans are dismayed about the economy didn’t stop the gains on Wall Street today.
It’s understandable if people are getting dizzy watching the Dow, considering Wednesday’s shocking 519 point plunge. That was just the latest go round on the Dow’s recent wild ride as the index closed up 423 points on Thursday.
It was yet another rough day on Wall Street Wednesday, a day after the Dow Jones Industrial Average posted its biggest gain since early 2009.
The Dow picked up steam late in the trading day Tuesday and closed up nearly 430 points.
The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor’s downgraded American debt.
Wall Street was not for the faint of heart Friday. The breathtaking peaks and valleys of the day came to an end with the Dow closing up 61 points.
Fears about the global economy led to the biggest panic in financial markets since the 2008 financial crisis.