NEW YORK (Sputnik) – The Dow Jones Industrial Average, Wall Street’s broadest equity value barometer, hit record highs on Wednesday, as industrial and leisure stocks previously battered during the height of the coronavirus pandemic in the United States rebounded amid falling infection numbers due to the huge vaccination drive against the virus.
The Dow closed up 0.3 percent, or 97 points, at 34,230, after a record high at 34,331. For the year, the index is up almost 12 percent.
“The Dow Jones (is) catching some cyclical rotation and keeping its head above water” despite a flat-to-weaker performance of the broader US stock market, said Jeffrey Halley, an analyst at online stocks trading platform OANDA.
The Dow’s record performance came after data on Wednesday showed the US private sector added 742,000 jobs in April, its most in seven months, as the economy rapidly recovers from the ravages of the COVID-19 pandemic.
