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Dow, S&P seen headed for new all-time highs

AFP-JIJI

U.S. markets pushed close to new records last week, a stunning rebound after the steep crash of 2008 wiped trillions of dollars from Americans’ pocketbooks and retirement accounts.

The thrust past 14,000 by the Dow Jones industrial average Friday, the first time since Oct. 17, 2007, underscored the spectacular recovery U.S. stocks have made despite the economy’s slow growth.

Helped by all-time low interest rates and a steady rise in corporate earnings, analysts said the Dow and the S&P 500 could easily surpass their all-time highs in the coming month, if not sooner.

Both set fresh post-2007 records Friday. The Dow closed at 14,009.79, still shy of the Oct. 9, 2007, record of 14,164.53. The S&P 500 reached 1,513.17, its best close since Dec. 10, 2007, and just 3.4 percent shy of the Oct. 9, 2007, all-time closing high of 1,565.15.