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Dow average blows past its 2007 record high

Tuesday - 3/5/2013, 12:55pm  ET

Michael Pistillo, Jr. right, with Barclays, calls out the price of Tiffany & Co. stock to Joseph Lawlor at the New York Stock Exchange, Tuesday, March 5, 2013 in New York. The Dow Jones industrial average jumped nearly 100 points early Tuesday, reaching an all-time high, powered by China's strong economic growth targets and a jump in European retail sales. (AP Photo/Mark Lennihan)

NEW YORK (AP) -- The Dow Jones industrial average is trading at an all-time high.

The index surged past its previous record set in October 2007, gaining 145 points to stand at 14,273 at midday Tuesday. That's a gain of 1 percent.

The index is now up nearly 9 percent for the year, capping a remarkable comeback since the depths of the financial crisis. The Dow has doubled since bottoming out at a 12-year low in March 2009.

Tuesday's gains were driven by industrial and technology stocks. IBM, United Technologies and 3M led the Dow higher.

The Standard & Poor's 500 index rose 16 points, also 1 percent, to 1,541. The S&P is also within striking distance of its record close of 1,565. The Nasdaq composite gained 43 points, or 1.4 percent, to 3,225.


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