NEW YORK (CBSNewYork/AP) — Stock market indexes are hitting new milestones on Wall Street.
The Dow Jones industrial average crossed 16,000 points for the first time early Monday and the Standard & Poor’s 500 index crossed 1,800 points.
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.
EXTRA: More From CBS MoneyWatch
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.
Boeing rose the most of the 30 stocks in the Dow after the plane maker booked $100 billion in orders at the opening of the Dubai Airshow.
Check Out These Other Stories From CBSNewYork.com:
- Wake Held For 11-Year-Old Girl Killed In Keansburg, New Jersey
- Girl Found Safe After Going Missing At Coney Island
- Advancing Storms Prompt Flash Flood Watch, Snag Air Traffic
- New Video: Hunt Continues For Suspect Wanted In 4 Attempted Rapes In Crown Heights, Brooklyn
(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)