Dow hits all-time highs as materials, energy stocks rise

The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid

(Reuters) – The Dow Jones Industrials hit a record high on Monday on optimism that interest rates would remain lower for longer, while a surge in commodity prices lifted shares of miners, energy and steel companies.

The Dow Jones Industrial Average rose 7.5 points, or 0.02%, at the open to 34785.27. The S&P 500 fell 4.3 points, or 0.10%, at the open to 4228.29, while the Nasdaq Composite dropped 64.6 points, or 0.47%, to 13687.595 at the opening bell.

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