Dow reaches new high on better sentiment

THE Dow Jones Industrial Average shook off early weakness overnight and pressed through to another record close on improving market sentiment.

At the closing bell, the Dow was up 59.44 (0.41 per cent) to 14,672.92.

The broad-based S&P 500 jumped 5.46 (0.35 per cent) to 1568.53, while the tech-rich Nasdaq Composite Index added 15.61 (0.48 per cent) to 3237.86.

Dan Greenhaus, chief global strategist at broker BTIG, said the market continued to recover after last week's weak jobs report.

"While there's no news, it's part of that recovery from Friday's report," Mr Greenhaus said.

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