Dow Jones Average Tops Record High
The Dow Jones industrial average surged to a record high this morning at the opening bell, surpassing a key level in its recovery from the 2008 financial meltdown.
The Dow rose 92 points to 14,221 at 9:49 a.m., topping the previous record high of 14,164 achieved on Oct. 9, 2007.
An index of 30 of the largest US companies, the Dow is a widely-watched indicator of the stock market. It has more than doubled from its low reached in 2009 after the government bailed out the major banks, which were crushed under the weight of bad mortgages fueled by easy-lending policies.