Dow average blows past its 2007 record high

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Associated Press

Posted on March 5, 2013 at 12:01 PM

NEW YORK (AP) — The Dow Jones industrial average is trading at an all-time high.

The index surged past its previous record set in October 2007, gaining 145 points to stand at 14,273 at midday Tuesday. That's a gain of 1 percent.

The index is now up nearly 9 percent for the year, capping a remarkable comeback since the depths of the financial crisis. The Dow has doubled since bottoming out at a 12-year low in March 2009.

Tuesday's gains were driven by industrial and technology stocks. IBM, United Technologies and 3M led the Dow higher.

The Standard & Poor's 500 index rose 16 points, also 1 percent, to 1,541. The S&P is also within striking distance of its record close of 1,565. The Nasdaq composite gained 43 points, or 1.4 percent, to 3,225.

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