Dow Jones closes at new high

<p>The Dow Jones was at a new high last night.</p>

A new high was reached by the Dow Jones last night (May 7th) as the index closed at its highest ever point.

Markets have been responding strongly in the last few weeks and five-year highs have been hit by both the FTSE 100 and the Nikkei index in recent days.

The Dow rose 87 points to 15,056 on the back of jobs data released by the US government that was better than expected.

Other world markets have also gained this week and another record-breaker came in Europe, with Germany's Dax hitting a fresh record, rising 70 points to 8,182.

"We don't think people are giving enough credit to the strength of the economy,'' said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research.

There were more records in the US too, as the Standard & Poor's 500 closed at a record high for the fourth successive day.

Yesterday, the FTSE 100 reached 6,549.58, which was its highest point in five-and-a-half years.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.