NEW YORK — After barreling through a record the day before, the Dow Jones industrial average meandered higher on Wednesday.
The Dow edged up 42.47 points, or 0.3 percent, to close at 14,296.24. An encouraging job-market report helped nudge the stock market up and pushed bond prices lower.
On Tuesday, the Dow blew past the previous all-time high it hit more than five years ago. The index of 30 big corporations has more than doubled since hitting a low during the financial crisis in March 2009.
The question now is, how much longer can it keep climbing?
In the past, stock indexes have often drifted lower in the months after breaking through previous record highs. David Brown, director of Sabrient Systems, an investment research firm, sees plenty of reasons for the market to keep climbing, however. People are putting their cash into the stock market again. And the alternatives, like bonds, are hardly appealing.