Post by bot on Jan 25, 2017 22:56:52 GMT -5
Dow opens above 20,000 intraday for the first time ever
The Dow Jones Industrial Average on Wednesday kicked off trade above the psychologically significant threshold of 20,000, representing a milestone for the blue-chip gauge and highlighting a relatively speedy path higher for the Dow (42 days--marking the second fastest 1,000-point move in history) in the wake of Donald Trump's election win in November. He took the oath of office Jan. 20. Trump has promised a raft of pro-business policies which have driven equity values higher and a batch of corporate results, for some investors, have added to the enthusiasm for U.S. equities. The Dow rose 113 points, or 0.6%, at 20,024, the S&P 500 gained 7 points, or 0.4%, to 2,288, while the Nasdaq Composite Index jumped 34 points, or 0.6%, to 5,634. Both the S&P 500 index and the Nasdaq ended at records Tuesday and are on track to finish at all-time highs, along with the Dow, if trading holds at current lofty levels. Although the pace of gains had tapered somewhat, since Trump's Nov. 8 election the Dow is up nearly 9%, the S&P 500 index has gained 7% and the Nasdaq Composite Index has advanced about 8%. In corporate news, Dow component Boeing Inc. posted better-than-expecting earnings, while United Technologies Corp. reported lackluster fourth-quarter results. Meanwhile, the dollar was trading flat at 100.2800, as measured by the U.S. ICE Dollar Index and the benchmark 10-year Treasury yields extended their gains, adding 3.4 points at 2.50%.
The Dow Jones Industrial Average on Wednesday kicked off trade above the psychologically significant threshold of 20,000, representing a milestone for the blue-chip gauge and highlighting a relatively speedy path higher for the Dow (42 days--marking the second fastest 1,000-point move in history) in the wake of Donald Trump's election win in November. He took the oath of office Jan. 20. Trump has promised a raft of pro-business policies which have driven equity values higher and a batch of corporate results, for some investors, have added to the enthusiasm for U.S. equities. The Dow rose 113 points, or 0.6%, at 20,024, the S&P 500 gained 7 points, or 0.4%, to 2,288, while the Nasdaq Composite Index jumped 34 points, or 0.6%, to 5,634. Both the S&P 500 index and the Nasdaq ended at records Tuesday and are on track to finish at all-time highs, along with the Dow, if trading holds at current lofty levels. Although the pace of gains had tapered somewhat, since Trump's Nov. 8 election the Dow is up nearly 9%, the S&P 500 index has gained 7% and the Nasdaq Composite Index has advanced about 8%. In corporate news, Dow component Boeing Inc. posted better-than-expecting earnings, while United Technologies Corp. reported lackluster fourth-quarter results. Meanwhile, the dollar was trading flat at 100.2800, as measured by the U.S. ICE Dollar Index and the benchmark 10-year Treasury yields extended their gains, adding 3.4 points at 2.50%.
