NEW YORK – The U.S. financial markets’ biggest rally in more than three years continued today, pushing the Dow Jones Industrial Average above 13,000 points for the first time, Bloomberg News said. The blue-chip index broke 12,000 only 128 days ago.
Higher-than-expected profits at Boeing Co. and Amazon.com helped fuel the rise, as did this morning’s sunnier than expected Census Bureau reports on March orders for durable-goods, which showed business spending was beginning to recover, and new-home sales, which rose for the first time this year. Trading was heavy, Bloomberg said, with 1.68 billion shares trading hands on the New York Stock Exchange, 5.5 percent above the three-month average, as more than 11 stocks rose in price for every four that fell.
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Boeing shares rose 1.1 percent to a record $94.69 after the aerospace company posted a 27-percent increase in first-quarter earnings, Bloomberg said, while Amazon shares soared 27 percent to $56.81 after the online retailer said its first-quarter profit doubled and the firm boosted its full-year forecasts.
The Dow added 139.95 points or 1.1 percent to close at a record 13,089.896 points, as all but one of its 30 components rose. The Standard & Poors’ 500 rose 15.01 or 1 percent to 1495.42 points, its highest since September 2000. The Nasdaq Composite Index gained 23.35 or 0.9 percent to 2547.89. The Russell 2000 Index gained 0.7 percent to 832.07 points. And the Dow Jones Wilshire 5000 Index – the broadest measure of the U.S. market – rose 0.9 percent to 15,110.40 points, Bloomberg said, indicating a $172.4 billion increase in market value.
