News Summary: Dow surges to record

AP News
Posted: Mar 05, 2013 5:45 PM

RECORD SURGE: The Dow surged to a record in early trading on Wall Street, following gains for stock markets across the globe. China's markets rose on bullish growth estimates, European markets jumped after a surprisingly strong rise in retail sales. More promising news about housing kept the momentum going in the U.S.

THAT WAS THEN: The Dow has more than doubled since in March 2009, when it bottomed out at 6,547.05 following the financial crisis and the onset of the Great Recession.

THIS IS NOW: A flood of stimulus from the Fed, growing company earnings, renewed interest in stocks among retail investors, and attractive evaluations compared to bonds, are all reasons that investors are pushing up the prices of equities. The index closed at 14,253.77 Tuesday, up 125.95 points, or 0.9 percent.