Dow Rallies to Hit All-Time High

Dow Jones industrial average surges almost 200 points.

Courtesy: yale.edu

(NEW YORK) - The Dow hit an all-time high on Monday, on signs that the big banks are starting to put the worst of the credit and housing worries behind them -- and on hopes that the Fed will continue to cut interest rates.

The Dow Jones industrial average added over 191 points, after rising as high as 14,115.27 and setting a new all-time intra-day high. The previous intra-day high was 14,021.95 on July 19th.

The S&P 500, up over 20 points, and the tech-fueled Nasdaq composite, up over 39 points, both gained 1.2 percent. The Nasdaq was at it's highest levels since Feb. 2001.