The Dow Jones industrial average briefly traded above its all-time closing high for the first time in six-and-a-half years today to extend a recent rally on a bullish view about corporate profits.
The 110-year-old gauge rose to 11,724.86, pulling past the previous record closing high of 11,722.98 hit on January 14th, 2000, when the average also hit an intraday record peak of 11,750.28.
The Dow Jones industrial average was up 32.25 points, or 0.28 per cent, at 11,721.49. The Standard & Poor's 500 Index was up 2.74 points, or 0.20 per cent, at 1,339.33. The Nasdaq Composite Index was up 7.93 points, or 0.35 per cent, at 2,271.32.
Altria Group, the maker of Philip Morris cigarettes and Kraft foods, was by far the biggest contributor to the Dow's rise over the last six-and-a-half years, soaring more than 200 per cent.