Economics

Dow Average Tops 18,000 for First Time as GDP Tops Views

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The Dow Jones Industrial Average rose above 18,000 for the first time as faster-than-forecast growth in gross domestic product boosted confidence in the economy as the Federal Reserve pledges patience with interest rate increases.

Technology companies have had some of the biggest gains in the Dow this year with Intel Corp. rising more than 43 percent and Microsoft Corp. jumping 28 percent. Consumer companies such as Home Depot Inc., Walt Disney Co. and Nike Inc. have also risen at least 22 percent to lead the 30-stock gauge’s advance.