Dow hits record as US stocks extend rally

The Dow shot up to a new record today as global equity markets rallied again amid confidence in US economic strengthening and the continuation of central bank easy-money policies.

At the closing bell, the Dow Jones Industrial Average was up 0.7 per cent.

The broad-based S&P rose 0.7 per cent to hit a record for the second straight day, while the Nasdaq Composite Index gained 0.7 per cent to close above 5,000 for the first time all year.