Dow sleepwalks to new highs

The record high in the Dow Jones should be taken with a big pinch of salt.

The world's oldest market index has hit a new record. America's 117-year-old Dow Jones index has eclipsed the 14,164 level it reached in October 2007. The equity rally has also propelled the S&P 500 index to near-record highs. European stocks are at four-and-a-half-year peaks.

What the commentators said

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