Dow Jones hits new intra-day high

NYSE traders

The Dow Jones Industrial Average hit a new intra-day high in early Wednesday trading, climbing 111.90 points to 23,109.34.

It came a day after the index broke through the 23,000 level for the first time, although it fell back to close below the milestone.

Also on Wednesday, the wider S&P 500 index edged up 2.86 points to reach 2,562.22.

Meanwhile, the tech-rich Nasdaq index rose 7.2 points to 6,630.86.

The Dow Jones, which tracks 30 of the biggest US listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Donald Trump will win backing for his tax cut plan.

Its latest surge was fuelled by IBM, which added 8% after reporting third-quarter earnings that beat analysts’ expectations, even though its profits for the period fell 4% to $2.7bn.