May 20, 2013
Dow ends at record, European shares at multi-year highs
The Dow Jones Industrial Average soared to a record closing high today, breaking through levels last seen in 2007 and as investors rushed in to join the party in anticipation of more gains.
The Dow Jones industrial average shot up 126.18 points, or 0.89 percent, to end at 14,253.92. The Standard & Poor's 500 Index rose 14.60 points, or 0.96 percent, to finish at 1,539.80. The Nasdaq Composite Index was jumped 42.10 points, or 1.32 percent, to close at 3,224.13.
Europe's top equity indexes bounced to multi-year highs today, propelled by the breach of key technical levels, a crop of upbeat corporate outlooks and the prospect of continued stimulus from global central banks.
The European Central Bank, the Bank of England and the Bank of Japan are all expected to stick to ultra easy monetary policy at meetings this week, following on from reassurances by US Federal Reserve officials that their stimulus programme is also here to stay, for now.
The pan-European FTSEurofirst 300 index closed up 1.8 percent at 1,189.02 points, its highest finish in 4-1/2 years but just short of the February 2011 intra-day peak of 1,191.56 points.