The Dow Jones Industrial Average reached its highest level ever just after the opening bell this morning, thanks in part to China's pronouncement that it would be maintaining its growth target. As of 9:51, the Dow was up 103 points, to 14,231. Its previous high, set in October 2007, was 14,165, TheStreet reports. The Nasdaq and S&P were up as well, rising 26 and 11 points respectively.
"Confidence and sentiment are improving," one market strategist tells Bloomberg. "The market has shrugged off some pretty tough news from overseas with the Italian elections and Europe. We’re seeing the US markets continuing its move up here."