Dow, S&P Zip Into Uncharted Territory

Markets FOXBusiness

FOX Business: Capitalism Lives Here

Continue Reading Below

The Dow and broader S&P 500 jumped to fresh all-time highs on Tuesday, with the blue-chip average closing above 15000 for the first time ever, on the back of a strong European session.

Today's Markets 

The Dow Jones Industrial Average climbed 87.3 points, or 0.58%, to 15056, the S&P 500 gained 8.5 points, or 0.52%, to 1626 and the Nasdaq Composite advanced 3.7 points, or 0.11%, to 3397.

It was another day of making milestones for Wall Street. The Dow ended above 15000, and the S&P hit its tenth record high of the year. The Dow is up 14.9% for the year, while the S&P is higher by 14%. 

With little in the way of economic data released on the day, events in Europe were driving trading. 

Continue Reading Below

The German DAX, which is the country's benchmark index, rallied 0.87% to an all-time high on the day. A report showed German industrial orders climbing 2.2% in March, much better than expectations of a 0.5% dip. The data came as good new from Europe's largest economy that has been struggling against headwinds from the continent's debt crisis. 

The Federal Reserve said consumer credit rose by $7.97 billion in March, the gain since July, and much less than the $16 billion economists expected. Revolving credit, like credit cards, $1.71 billion for the month, while none-revolving credit climbed $9.68 billion. 

Energy futures were solidly lower. The benchmark U.S. crude oil contract dipped 54 cents, or 0.56%, to $95.62 a barrel. Wholesale New York Harbor gasoline slid 1.1% to $2.833 a gallon. In metals, gold skidded $19.20, or 1.3%, to $1,449 a troy ounce. 

Foreign Markets

The Euro Stoxx 50 jumped 0.75% to 2771, the English FTSE climbed 0.4% to 6548 and the German DAX rallied 0.92% to 8187. 

In Asia, the Japanese Nikkei 225 surged 3.6% to 14180 and the Chinese Hang Seng advanced 0.58% to 23047.

What do you think?

Click the button below to comment on this article.