The Dow edges up to book its ninth consecutive record high

Courtney Goldsmith
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The Dow and the S&P 500 hit record highs today (Source: Getty)

Global stock markets rose to record levels today as the Dow Jones Industrial average clocked its ninth straight day of all-time highs.

The 30-stock Dow index closed up 0.12 per cent at 22,118.42 points, supported by strong economic data and positive corporate earnings in the US.

Meanwhile, the S&P 500 gained 0.16 per cent to close at a fresh record high of 2,480.91, and the Nasdaq composite rose 0.51 per cent to close at 6,383.77.

The Dow closed at record highs all of last week thanks to stronger than expected earnings from key stocks like Apple, and it broke the 22,000 level on Wednesday.

It made average daily gains of 0.26 per cent over the nine sessions of record highs.

According to data from FactSet last week, earnings in the second quarter grew 10.1 per cent for the S&P 500, higher than the estimated earnings growth rate of 6.4 per cent.

"Despite precious few game changing economic policies from Trump thus far, the latest US jobs data coupled with elevated business confidence numbers suggest firms remain bullish for the US economy going forward," said Joshua Mahony, market analyst at IG.

Read more: Dow Jones passes 22,000 for a new record high

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