In a historic day for the stock market, the Dow Jones Industrial Average finished at an all-time high. The index closed at 11,727 — beating a record set six and a half years ago. Analysts credit a drop in energy costs and a belief that interest rates have peaked for the rise.
Stock prices have been rising lately because of a confluence of factors: falling energy prices, healthy corporate profits and a widespread perception among investors that interest rates may have peaked.
The price of a barrel of oil fell more than $2 dollars Tuesday, closing below $59 a barrel for the first time since mid-February.