Dow Passes 16,000 for First Time

At least one part of the economy is going gangbusters. The Dow Jones Industrial Average topped 16,000 for the first time Monday, continuing what has been a yearlong surge in the U.S. stock market. The S&P 500 topped 1,800, and the Nasdaq hovered near 4,000. Despite slow growth in employment, company earnings have remained high, and the Federal Reserve’s expansionary monetary policies have buoyed confidence in the stock market.