The Dow Jones Industrial Average DJIA, +0.19% on Thursday morning put in its first intraday record in about eight months and the S&P 500 index opened at an all-time high as well, as the stock market extended a recent rally underpinned by a healthy economic backdrop in the U.S. The Dow rose by more than 230 points, and was most recently up 0.9% at 26,638.93, surpassing its intraday record at 26,616.71, which marked the last time that the blue-chip benchmark scored a record on Jan. 26. The S&P 500 index SPX, +0.29% also notched an all-time high at the 2,924.89, and was recently up by 0.6%. Meanwhile, the Nasdaq Composite Index COMP, +0.36% gained 0.7% at 8,007. Although many are concerned that a full-blown trade war will become a huge headwind to global economic growth, investors have repeatedly shrugged off the issue over the past several months, choosing instead to focus on signs of improving economic fundamentals. In the latest economic data, first-time jobless claims fell by 3,000 last week, dropping to their lowest level since November 1969. Separately, the Philadelphia Fed manufacturing index jumped more than expected in September, rising to 22.9 from 11.9 in the previous month.