Bull market back in sync as Dow finally eclipses January high

(Sept 21): The last victim of the inflation and trade scares that roiled US equities earlier this year has finally recovered.

The Dow Jones Industrial Average rode its seventh gain in eight days to an all-time high of 26,657, capping a seven-month slog back from one of the biggest routs of the bull market. Intel Corp. and Caterpillar Inc. led the final leg of the advance, rising more than 2% Thursday.

The record comes as investors shrug off the latest salvo in the US-Chinese trade scuffle and a rout in Treasuries that took the 10-year yield to heights that rattled stocks in February. With the Dow joining the rest of the major American benchmarks in rebounding from the early-year tumult, the breakout is likely to be cheered as a sign that the 9 1/2-year equity rally is broadening.

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