- Dow Jones Industrial Average Closes Above 20K
The Dow Jones industrial average hit a major milestone on Wednesday, closing above 20,000 points for the first time.
Investors pushed stocks higher after strong earnings reports and the market continued to be buoyed by President Donald Trump’s vow to cut regulations for businesses and slash corporate tax rates.
The Dow gained 155.8 points to close out the trading session at 20,068.51. The S&P 500 and the Nasdaq composite joined the Dow in closing at all-time highs.
The benchmark index has staged a remarkable comeback since losing almost half its value after the financial crisis in 2008.
The Dow has been flirting with the 20,000 mark for weeks and has continued to rally since Trump’s election in November.
After erupting in cheers at the crossing of the 20,000-point threshold during the market’s opening bell, some traders at the New York Stock Exchange also donned “Dow 20,000” hats to mark the occasion.