Dow Jones Hits 35,000 First Time Ever Continuing Record High Streak On Wall Street

The Dow Jones Industrial Average, Wall Street's broadest equity barometer, crossed the 35,000 point mark on Monday for the first time ever, continuing its record high streak from last month powered by the rebound in industrial and leisure stocks battered by the coronavirus pandemic

NEW YORK (UrduPoint News / Sputnik - 10th May, 2021) The Dow Jones Industrial Average, Wall Street's broadest equity barometer, crossed the 35,000 point mark on Monday for the first time ever, continuing its record high streak from last month powered by the rebound in industrial and leisure stocks battered by the coronavirus pandemic.

By 11:32 a.m. (15:32 GMT), some two hours after trading opened for the new week, the Dow was at 35,076, setting an all-time high of 35,092 earlier.

The Dow had its best week in three months last week, rising 2.7 percent, after a rash of US data pointing to faster-than-expected recovery from the COVID-19 despite a sharp growth in US jobs growth for April.

For May thus far, the Dow is up 3.5 percent, while year-to-date it has risen 14.6 percent, outperforming the broader market.

The S&P 500 index, which groups the top 500 stocks on the New York Stock Exchange, also hit record highs, was flat at 4,232.

The tech-heavy Nasdaq Composite plunged 1.5 percent to 13,544, bucking the trend in the Dow as investors sold high-flying growth stocks such as Facebook, Amazon, Apple, microsoft, Netflix and Google to buy those of value in the leisure and industrial sector.