US stocks hit fresh highs as Nasdaq passes 5,000

US stock markets followed in the footsteps of the FTSE 100 on Monday, with the Nasdaq reaching its highest level for almost 15 years.

The Dow Jones and S&P 500 soared above previous record levels, buoyed by better US economic figures in the service sector and M&A activity. The Dow Jones index gained 0.9% to reach 18,288 while the S&P 500 rose 0.6% to 2,117. Both indices have posted multiple all-time highs over the past few months. More significantly, the technology-dominated Nasdaq index also climbed 0.9% points to 5,008, marking the first time since 10 March 2000 it closed above 5,000. Visa was the leading stock on the Dow Jones yesterday, gaining 2.5%, followed by Intel (+2.4%) and Bowing (+2%). Investors we...