Dow hits 16,000 for first time, S&P 500 hits 1,800

Dow Jones industrial average hits 16,000 for first time, Standard & Poor's 500 hits 1,800

Associated Press
U.S. stock indexes hit round-number milestones
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FILE - In this Nov. 13, 2013 file photo, trader Frederick Reimer, center, uses his mobile phone as he works on the floor of the New York Stock Exchange, in New York. Stock futures are rising again Monday, Nov. 18, 2013, in a week that will be loaded with new data on the housing market and minutes from the Federal Open Market Committee. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- Stock market indexes are hitting new milestones on Wall Street.

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.

Stocks have been rising sharply this year as the U.S. economy improves, companies report bigger profits and the Federal Reserve keeps up its easy-money policies.

The S&P 500 index has risen for six weeks straight and is up 26 percent so far this year. A growing number of market watchers are calling for caution after the steep rise.

Boeing rose the most of the 30 stocks in the Dow after the plane maker booked $100 billion in orders at the opening of the Dubai Airshow.

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