Dow beats all-time high from January

Wall Street delivered another set of milestones Thursday as a wave of buying sent U.S. stocks solidly higher, driving the Dow Jones Industrial Average above the all-time high it closed at in January.

The S&P 500, the benchmark for many index funds, also hit a new high, eclipsing the peak it reached last month.

Technology stocks, banks and health care companies accounted for much of the broad rally. Energy companies declined along with crude oil prices.

A weaker dollar, which helps U.S. exporters, and a mix of mostly encouraging economic reports helped put investors in a buying mood, a turnaround from earlier in the week when the U.S. and China each announced a new round of tariffs on each other’s goods, triggering a sell-off.

“Some of the economic data that came out today continued to show strength,” said Lindsey Bell, an investment strategist with CFRA. “Given the strength in the economy, backed by the stimulus from

tax reform as well as just fiscal stimulus in general, that should be able to offset some of the impact that we’re going to get from tariffs as we go into the end of the year.”