Wall Street hits highs not seen for four years


The Dow Jones Industrial Average hit an intra-day high of 12,967.85, its highest level since May 2008, while at 1,363.40, the S&P was also close to levels not seen since before the financial crisis.

Having been rattled by Europe’s debt confidence last year, Wall Street investors ended the week with hopes that European leaders will be able to seal a second bail-out for Greece on Monday.

Wall Street has enjoyed a strong start to the year, with the S&P up almost 10pc. The rally has been spurred by evidence the US economy may at last be gaining some momentum.

Weaker-than-expected inflation data on Friday from the Labor Department only strengthened investors’ expectations that the Federal Reserve will keep interest rates at record low levels for the next three years.

Inflation edged up 0.2pc in the month, the report showed, leaving prices up 2.9pc over the last 12 months. That came on top of a report on Thursday showing the number of Americans registering for jobless benefits is now at the lowest level in four years.

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