Dow and S&P 500 hit new record highs

The largest equity markets in the US have reached new record highs after an uptick in manufacturing data boosted investor sentiment.

US factory orders rose 3% in February, the largest rise in five months, another signal the US economic recovery is gaining traction. The Dow Jones Industrial Average gained 0.6% or 89 points, to close at 14,662 after hitting a fresh intraday high of 14,684.49 earlier in the session. The S&P 500 closed at a record high of 1,570. Its next milestone will be to surpass its all-time intraday high of 1,576.09, set in October 2007. US equity markets have enjoyed a strong run since the start of the year, over which time the Dow has gained almost 12% and the S&P more than 10%. Investor s...