Dow closes above 18,000 for 1st time in history

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Liz Cho has the details. (WABC)

The Dow Jones industrial average is breaking through another milestone, closing above 18,000 points for the first time following more encouraging news on the U.S. economy.

The government reported early Tuesday that the economy grew at a rapid annual rate of 5 percent in the third quarter of the year, the fastest pace in more than a decade.

It was the fifth straight gain as the market shakes off the last of an early-December slump. The Dow and the Standard & Poor's 500 index are at all-time highs.

The Dow rose 64 points, or 0.4 percent, to 18,024.

The S&P 500 rose three points, or 0.2 percent, to 2,082.

The Nasdaq composite fell 16 points, or 0.3 percent, to 4,765.

Energy stocks rose as the price of oil turned higher.

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