The Dow gained 103 points, or 0.8 percent, to 14,239 as of 10 a.m. EST, surpassing its previous record high of 14,198 set on Oct. 11, 2007.
The Standard & Poor's 500 index rose 12 points, also 0.8 percent, to 1,538. The S&P is also within striking distance of its own record close of 1,565. The Nasdaq composite gained 32 points, or 1 percent, to 3,213.62.