Dow Jones surges 429 points as U.S. stocks take off again

NEW YORK, New York - It was another record-breaking day on Wall Street Wednesday as the Standard and Poor's 500 and Nasdaq Composite notched up new record highs, with the S&P 500 closing above 5,600 for the first time.

"There are some things out there that look kind of frothy, but there's no indication yet that [megacap technology] earnings can't support those valuations," Scott Welch, chief investment officer at