US stocks rose dramatically yesterday to push the Dow to an all-time high just three points shy of 12,000.
The Dow Jones industrial average was up 20.09 points, or 0.17 per cent, to end at a record 11,980.60.
The Standard & Poor's 500 Index was up 3.43 points, or 0.25 per cent, at 1,369.05. The Nasdaq Composite Index was up 6.55 points, or 0.28 per cent, at 2,363.84.
The upward movement comes amid positive assessments of the economy and an advance in energy shares, boosted by a jump in oil prices.
The latest round of record-setting began the first week of October when the 110-year-old index first charged past a high mark last set during the Internet boom of January 2000.
Recent company comments and government data have indicated that the US economy is stronger than expected, heading into the end of the year, and that companies will post another quarter of double-digit earnings growth.
Crude oil futures rose more than $1 to nearly $60 a barrel, pulling up energy stocks such as Exxon Mobil Corporation as Opec tries to put together a deal to cut production.
Solid September retail sales numbers followed by favourable comments on the US economy by GE's chief executive on Friday have helped alleviate recent concerns about US growth through year end.