Dow strikes record high as broader market weakens

Wall StreetWall Street

Rising shares of Boeing pulled the Dow Jones Industrial Average up to a record high on Thursday, while the S&P 500 fell as investors saw higher-than-expected inflation increasing the chances of an interest rate hike.

The Dow’s third consecutive all-time high was driven in part by Boeing , which rose 1.36 percent after Deutsche Bank raised its price target on the aerospace and defence stock.

The Dow rose 0.2 percent to end at 22,203.48 points, while the S&P 500 lost 0.11 percent to 2,495.62.

The Nasdaq Composite dropped 0.48 percent to 6,429.08, hurt by a 0.86-percent decline in Apple .

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