NEW YORK (AP) — The Dow Jones industrial average closed above 16,000 for the first time Thursday as the blue-chip index races toward its best year in a decade.
The Dow has been on fire lately, propelled higher by a combination of solid corporate earnings, a steadily strengthening economy and easy-money policies from the Federal Reserve.
Since the start of the year, the Dow is up 22 percent and has now topped three 1,000 point milestones in 10 months. It eclipsed 14,000 in February and 15,000 in May. If it holds onto its gains, it would notch its strongest performance since 2003.
"The market has come a long way," said Dan Seiver, an economist at San Diego State University. "It's a sign of just how far financial markets have recovered."
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