Dow sets another fresh record high

<p>There was a new record high for the Dow on Tuesday.</p>

The Dow Jones index has continued to perform strongly in 2013 and on Tuesday (March 12th) it set a new record high.

But its industrial average closed up just 2.77 points, or 0.02 per cent, at 14,450.06, which could indicate recent gains are coming towards an end.

On Monday, it had been up 50.22 points at the end of the day's trading, or 0.35 per cent, to close at 14,447.29.

Reuters reports that one of the reasons for the slowdown in the growth of the index is the lack of fresh economic data.

"You have a little bit of buyers' exhaustion at this juncture," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

He explained there has been a "move that has been startlingly smooth in terms of progression of advances" in recent weeks, but this was never going to be able to last forever.

Learn about the sterling and forex trading 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.