Dow Jones hits record high, rises 600 points

US indices ended higher on Jan. 5, amid a broad rally across most asset classes, ranging from major commodities to equities and bonds, as markets brushed off concerns over escalating geopolitical tensions following Washington’s attack on Venezuela over the weekend.

The Dow Jones Industrial Average jumped 1.25%, or 594 points, to 48,977 points, setting a new record close.

The broader S&P 500 index gained 0.65%, or 43 points, to 6,902, while the Nasdaq Composite climbed 0.70%, or 160 points, to 23,395 points.

In Europe, the Stoxx Europe 600 rose 0.95% to 601.76 points, ending the session above the 600-point level for the first time ever.

Germany’s DAX surged 1.35%, hitting an all-time high at 24,868 points. France’s CAC 40 also increased 0.2% to 8,211 points, while London’s FTSE 100 edged up 0.54% to 10,004 points.

In Japan, the Nikkei 225 rose 2.95% to 51,832 points, marking its best daily performance since Oct. 20, while the broader Topix index jumped 2% to close at a record high of 3,477 points.

In oil markets, Brent crude futures for March delivery edged up 1.65%, or $1.01, to $61.76 a barrel.

US WTI crude futures for February delivery rose 1.75%, or $1, to $58.32 a barrel.

Gold futures for February delivery increased 2.8%, or $121.9, to settle at $4,451.50 per ounce.