Monday Surprise: Dow Jones Industrial Average All-Time High

Investing

Published: May 12, 2014 11:10 am

Last Updated: May 12, 2014 11:11 am

Monday might not feel like any major news day, but the Dow Jones Industrial Average has just hit a new all-time high of 16,695.18. On last look, the Dow was trading up about 95 points at 16,679 in late morning trading. The SPDR Dow Jones Industrial Average (NYSEMKT: DIA) exchange traded fund (ETF) hit a new high of $166.83 on Monday, and it was up 0.54% at $166.61 in late morning trading.

The S&P 500 index has lagged in its ability to keep challenging new highs, but the index is trying to recoup a new high as well. In late morning trading on Monday, the S&P 500 index was up more than 13 points at 1,891.67, and the index had hit a daily high of 1,893.81. The all-time high is 1,897.28.

The Nasdaq is clearly lagging when it comes to all-time highs, still close to 1,000 points short of the prior 5,132.52 all-time high — fourteen years ago — from March of 2000.

Monday is one of those days that may be driven by overseas gains. A lowering of tensions with Russia and hope of better elected officials for India, who will focus on economic growth and infrastructure, are helping out.

The overall analyst upgrade and downgrade montage was not stellar on Monday.

Gold is hanging in there at 1,299 per ounce, while crude oil is at $100.75 per barrel or so. And the yield on the 10-year Treasury is 2.65%, after closing at 2.62% on Friday.

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