Dow Jones closes at record high, reflects confidence in eco recovery

Yesterday's rise in the US stock benchmark that tracks 30 blue-chip companies came despite sequestration or the automatic spending cuts coming into force.

The rally saw Dow Jones topping the previous record set in October 2007 and helped investors overcome the losses tied to the financial crisis in 2008-2009.

"It really does represent an achievement that we have climbed out of this crater," Jack Ablin, chief investment officer at Chicago's BMO Private Bank, which manages about USD 66 billion, was quoted as saying by The Wall Street Journal.

"We're back to the highest levels in history, but we've got more things going for the economy and the market than we did last time," said Art Hogan, managing director at Lazard Capital told the CNN.

At the same time Nasdaq, which rose more than 42 points on Tuesday, is nearly 40 per cent below its all-time highs that were set in March 2000, prior to the collapse of the dotcom bubble.

The Nasdaq is trading at its highest level since November 2000 though, CNN said.

Not commenting on the markets, the White House Press Secretary, Jay Carney, told reporters that country's economy is poised to grow and poised to create jobs.

"I would simply say that we have an economy in 2013 that outside economists say and I think government economists agree is poised to grow and poised to

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