Dow Breaks Through 16,000-Point Barrier For First Time - Spokane, North Idaho News & Weather KHQ.com

Dow Breaks Through 16,000-Point Barrier For First Time

The Dow Jones industrial average hit a milestone Monday, passing 16,000 points for the first time ever. The Dow Jones industrial average hit a milestone Monday, passing 16,000 points for the first time ever.

NBCNEWS.COM - Stocks were having a milestone day on Monday when the Dow Jones industrial average pushed above the 16,000 barrier for the first time ever.

Driven by optimism that the Federal Reserve would keep its foot firmly on the economic-stimulus gas pedal and by increases in overseas stocks, the Dow broke though the benchmark barrier shortly after the opening bell, before retreating slightly.

The S&P 500 also surpassed a psychological hurdle, rising above 1,800 for the first time, while the Nasdaq also gained, leaving it less than 10 points from 4,000.

The Dow Jones Industrial Average rose 63 points to 16,025.32 in early morning trading -- above its record Friday close -- before retreating somewhat.

Boeing was among the blue-chip companies on the rise, after it received more than 250 orders for its revamped 777 jet at an airshow in Dubai.

The CBOE Volatility Index (VIX), a gauge of investor uncertainty, traded near 12.

For every five shares on the decline, eight gained on the New York Stock Exchange, where 68 million shares traded as of 9:40 a.m. Eastern. Composite volume cleared 218 million.

The dollar fell against global counterparts and the yield on the 10-year Treasury note used in figuring mortgage rates and other consumer loans fell a basis point to 2.7 percent.

Crude-oil futures dipped 0.1 percent to $93.71 a barrel; gold futures fell 0.3 percent to $1,283.60 an ounce.

At a conference in the United Arab Emirates, Boston Federal Reserve President Eric Rosengren told reporters capital ratios have improved in the United States, with bank lending on the rise to households and corporations.

Stocks in China climbed after the government vowed to ease its one-child policy and increase private investment as part of a package of economic reports.

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