Dow tops 18,000 as market reaches new highs - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Dow tops 18,000 as market reaches new highs

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 SAN DIEGO (AP) — More encouraging news on the U.S. economy helped send the Dow Jones industrial average above 18,000 for the first time.

The government reported early Tuesday that the economy grew at a rapid annual rate of 5 percent in the third quarter of the year, the fastest pace in more than a decade.

Indexes are at record highs and the market is on track for its fifth gain in a row. Indications that the Federal Reserve isn't planning interest rate hikes soon have reassured investors.

The Dow Jones industrial average rose 82 points, or 0.5 percent, to 18,043 as of 11:45 a.m. Eastern time.

The Standard & Poor's 500 rose five points, or 0.3 percent, to 2,083.

The Nasdaq composite fell four points, or 0.1 percent, to 4,777.

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