NEW YORK -
Soon after the opening bell the Dow Jones
Industrial hit an all-time high.
Surging more than 100 points, the Dow
passed the 14,198 mark, breaking the record set in October 2007.
Strong economic news from around the
world sparked Tuesday's rally. China announced plans to spend more to grow its
economy and retail sales jumped in Europe.
Stocks have been climbing this year
because of an improving U.S. economy.
Corporate earnings have been strong and
companies are starting to hire again. The housing market also appears to be
recovering.
The gains come even as $85-billion in
spending cuts begin to kick in, due to the ongoing budget battle in Washington
Tuesday's record was an all-time high
for trading. The Dow is also on track to for a record high close.
