Today.Az » Business » Dow sets all-time high, passes January 2000 level
03 October 2006 [20:48] - Today.Az
The Dow Jones industrial average set an all-time high on Tuesday, pulling above the previous record set in 2000 as tumbling oil prices led investors to buy shares of consumer and industrial companies that benefit from lower crude prices.
The 110-year-old Dow rose to 11,754.55, surpassing the intraday record of 11,750.28 set on January 14, 2000. The Dow Jones industrial average was up 81.08 points, or 0.69 percent, at 11,751.43. The Standard & Poor's 500 Index was up 6.43 points, or 0.48 percent, at 1,337.75. The Nasdaq Composite Index was up 12.09 points, or 0.54 percent, at 2,249.69. Altria Group, the maker of Philip Morris cigarettes and Kraft foods, was by far the biggest contributor to the Dow's rise over the past 6 1/2 years, soaring about 220 percent. Reuters
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