Traders react at the end of trade at the New York Stock Exchange in New York, March 5, 2013. The Dow Jones industrial average surged to a record high at the opening bell, surpassing a key level in its recovery from the 2008 financial meltdown. The Dow Jones closed at 14253.77 points topping the previous record high of 14,164 achieved on October 9, 2007. (Photo by EMMANUEL DUNAND/AFP/Getty Images)
NEW YORK (AP) -- The Dow is closing at a record, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.
The Dow Jones industrial average rose 125.95 points, or 0.9 percent, to close at 14,253.77 Tuesday, beating its previous record by 89 points.
The index is up 8.8 percent this year, capping a remarkable comeback. The Dow has more than doubled since hitting a 12-year low in March 2009.
The Standard & Poor's 500 index rose 14.59 points, or 1 percent, to 1,539.79. The S&P is also within striking distance of its record close of 1,565.
The Nasdaq gained 42.10 points, or 1.3 percent, to 3,224.13.
Three stocks rose for every one that fell on the New York Stock Exchange. Volume was light, 3.3 billion shares.