Dow Hits Record

by Patrick Brennan

The Dow Jones Industrial Index hit an all-time high this morning, rising almost three-quarters of a percent soon after opening. This has been mainly attributed to two bits of good news: The vice chairman of the Federal Reserve, Janet Yellen, said in a speech yesterday that she sees no reason for the Fed to halt its quantitative-easing program in the near term, a view chairman Ben Bernanke basically expressed in a Friday-night speech, too. Second, the Chinese government released its plan for this fiscal year, in which it committed to a 7.5 percent growth target and promised to increase government spending by 10 percent. From Bloomberg: