Remember when we said on Monday that stocks were completely ignoring U.S. lawmakers and the March 1 automatic spending cuts?
Well, it looks like we were on to something: The Dow on Thursday continued its upward ascent into record-breaking territory, surpassing for the second time its previous all-time high from two days ago.
“The Dow Jones industrial average rose 33.25 points, or 0.2 percent, to 14,329.49. The Standard & Poor’s 500 gained 2.80 points, or 0.2 percent, to 1,544.26. Both indexes rose for the fifth day straight,” the Associated Press notes.
“The Dow barreled through a record high Tuesday and has added to its gains since then,” the report adds.
Here’s how the Dow closed:
“The S&P 500 is also closing in on its own record high of 1,565, which was also reached on Oct. 9, 2007, the same day of the Dow’s previous peak. The S&P would need to rise 21 points, or 1.3 percent, to set a record,” the report continues.
Here’s what the S&P looked like:
The Nasdaq composite advanced 9.72 points, or 0.3 percent, to 3,232.09.
Here’s how the Nasdaq closed:
We’ll see where stocks move tomorrow after the Labor Department releases February’s employment report.
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Featured image Associated Press.