Dow hits record high as global indices climb

The Dow Jones Industrial Average - one of the two most quoted indices in the US - has hit a record high above 14,200 points, surpassing its 2007 peak.

The index closed up 126 points or 0.9% at 14,253 points, surpassing both the previous record close of 14,164 in October 2007, as well as its highest intra-day trading level of 14,198.1. The Dow - which is 116-years-old - has been on an upward trajectory all year, gaining 7.8% year to date before yesterday's move. From its most recent low of 12,101 seen in June last year, it has now risen almost 20% in just nine months. Other markets are also either at or near multi-year or record highs. The S&P 500 closed up at 1,539 points, up 1% on the day and just 26 points (less than 2%) shy of...