Dow hits 35,000 for the first time as stocks continue to shine

The Dow Jones Industrial Average reached a new milestone in early trading on Wednesday, topping 35,000 points for the first time in the history of the blue-chip index.

The Dow rose to 35,061 shortly after markets opened, buoyed by recent reports showing strong corporate profits. The index has risen 34% over the last year and is up 14% in 2021. Investors also seemed to take comfort in a statement by Federal Reserve Chairman Jerome Powell suggesting that he expects inflation, which has surged over the last year, to "remain elevated in coming months" before "moderating."