Dow Jones hits all-time high as materials, energy stocks rise

The Dow Jones Industrials hit a record high on Monday on optimism that interest rates would remain lower for longer, while a surge in commodity prices lifted shares of miners, energy and steel companies.

The Dow Jones Industrial Average rose 170.5 points, or 0.49%, at the open to 34,948.29. The S&P 500 fell 4.3 points, or 0.11%, at the open to 4,227.85, while the Nasdaq Composite dropped 166.6 points, or 1.21%, to 13,585.48 at the opening bell.