Stock indexes hit milestones before slipping back

November 18, 2013 - 1:05 PM
Wall Street

Traders work on the floor of the New York Stock Exchange Monday, Nov. 18, 2013. The Dow Jones industrial average crossed 16,000 points for the first time early Monday and the Standard & Poor's 500 index crossed 1,800 points. (AP Photo/Richard Drew)

NEW YORK (AP) — U.S. stock market indexes are hitting major round-number milestones.

The Dow Jones industrial average crossed 16,000 for the first time early Monday. The Standard & Poor's 500 rose past 1,800, then dipped slightly.

At midday, the Dow was up 40 points, or 0.3 percent, at 16,002. The S&P 500 index was up a point at 1,799. Both are at record highs.

The Nasdaq composite edged down two points, or 0.1 percent, to 3,983. The Nasdaq is still well below its record high of 5,048 reached in March 2000.

Stocks have risen sharply this year as the U.S. economy improves, companies report bigger profits and the Federal Reserve keeps up its economic stimulus program.

Boeing rose the most in the Dow after booking $100 billion in orders at the Dubai Airshow.