Dow retakes perch above 26,000 for first time in about three months as stock market extends rally
The Dow Jones Industrial Average rallied Friday morning, along with the other main benchmarks, as investor held out hopes for a trade deal between the U.S. and China before a March deadline.The Dow rose 180 points, or 0.7%, to 26,032 and hit an intraday high at 26,047. A trade above 26,00 would mark the benchmark's first since Nov. 8, according to FactSet data. Markets have been rebounding off the lows from December, and hope for a resolution of tariffs and a Federal Reserve that has said it would be patient with normalizing monetary policy have helped to support buying. Both the Dow and S&P 500 are up more than 19% from their Dec. 24th nadirs, while the Nasdaq Composite Index has advanced more than 20%, thus far in the year, at last check.