GLOBAL MARKETS-Stocks gain, Dow ends at record high

The Dow Jones Industrial Average rose 0.93% to end at a record 34,548.53 points, while the S&P 500 gained 0.82% to 4,201.62. The Nasdaq Composite climbed 0.37% to 13,632.84.

NEW YORK: The dollar fell and a gauge of global equity markets rose on Thursday as surging commodity prices spurred the prospect of rising inflation and led investors into economically-sensitive stocks on the reflation trade.

Aluminum prices approached levels last seen in 2018 and copper prices flirted with 10-year peaks. Gold jumped more than 1% as the weaker dollar and easing Treasury yields propelled the precious metal, an inflation hedge, above the key $1,800 an ounce psychological level.