Posted: Mar 5, 2013 10:34 AM
Source: Associated Press
NEW YORK- With a jump of more than 100 points in early trading, the Dow Jones Industrial Average has moved into territory it's never seen before.
The jump to an all-time high for the blue-chip average was powered in part by China's strong economic growth targets, and by a jump in European retail sales.
The index surged above its previous record high of 14,198 soon after the opening bell, and remained above that mark.
Stocks have rallied this year on optimism that the housing market is recovering, and that companies are slowly starting to hire again. Strong corporate earnings have also helped increase demand.
The market has also benefited from economic stimulus from the Federal Reserve and other global central banks.
The S&P 500 is within striking distance of its all-time highest closing level.