Dow Jones index hits all-time high before Christmas

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Dow Jones Industrial Average

Last Updated at 23 Feb 2018, 20:58 GMT *Chart shows local time Dow Jones intraday chart
value change %
25309.99 +

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(Close) The Dow Jones edged to another record high on Wednesday, closing at a record high of 18,030 after a shortened trading session.

On Tuesday, the index had breached the 18,000 points mark for the first time.

The index rose 0.03%, as investors were further encouraged by news that the US economy had grown at its fastest rate in 11 years.

However the S&P 500 fell marginally, by 0.01% to 2,082, while the Nasdaq gained 0.17%, closing at 4,773.

Trading in New York ended early, due to the Christmas holidays.

US stocks have been gaining ground since the country's central bank, the Federal Reserve, said last week that it would be "patient" before raising interest rates.

In further good news for the US economy, data released on Wednesday found that the number of Americans claiming unemployment benefits fell by 9,000 to 280,000 last week.

Markets in the US were also buoyed by a further fall in the price of oil, which is seen as good news for the country's consumers.

Brent crude dropped below $60 per barrel once again, falling by almost 3% to $59.96.

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