Dow Jones Industrial Average hits first record in nearly two years

The Dow Jones Industrial Average notched its first record close in nearly two years, recouping all of its losses from the Federal Reserve’s aggressive rate hikes to tame inflation as confidence builds on Wall Street that the central is done raising borrowing costs and ready to start cutting. The blue-chip index’s rise has been driven by industrial, technology and financial shares, with Boeing Co, Salesforce Inc, American Express Co, Goldman Sachs Group Inc and Intel Corp all posting double-digit gains since the Dow staged a 13% rally from its late October low.