Dow Crosses 20K for First Time Intraday
25 Gennaio 2017 - 4:10PM
Dow Jones News
By Aaron Kuriloff
The Dow Jones Industrial Average hit 20000 for the first time,
the latest milestone in the U.S. stock market's postelection
rally.
If the blue-chip index of 30 stocks closes above the mark
Wednesday, it will be the second-fastest thousand-point gain after
it took 24 trading days to climb from 10000 to 11000 during the
dot-com boom in 1999.
(Please follow our live coverage here.)
The Dow Jones Industrial Average 108 points, or 0.5%, to 20034
early Wednesday. The S&P 500 added 0.3% and the Nasdaq
Composite climbed 0.6%.
The Dow industrials have surged since Election Day, buoyed by
investors' bets that the administration of President Donald Trump
will pursue policies such as tax cuts, regulatory rollbacks and
infrastructure spending that could improve the outlook for U.S.
companies. The index has risen roughly 9% since Nov. 8, notching
several highs, and closed above 19000 for the first time ever Nov.
22.
Investors' surge into mining and manufacturing companies pushed
the index toward the milestone Tuesday, as some bet that Mr.
Trump's moves to revive oil-pipeline projects and cut regulations
signaled the first steps toward clearing the way for a surge in
infrastructure spending.
The gains also came as earnings from companies including banks
highlighted improving corporate profits and ongoing U.S. economic
growth. Shares of Boeing rose 2.4% Wednesday after the aerospace
company beat expectations for earnings in the final quarter of the
year.
Haven assets were under pressure, with selling in government
bonds sending the yield on the benchmark 10-year Treasury note to
2.504%, according to Tradeweb, from 2.471% after its biggest daily
rise of 2017. Gold fell 1.1% to $1,197.60.
The WSJ Dollar Index, which measures the U.S. currency against
16 others, rose 0.1%.
"We're guardedly optimistic," said Michael Thompson, managing
director at S&P Global Market Intelligence. "The U.S. was
inexorably poised to move out of this kind of this slow growth
trajectory, and some of the policy changes are certainly going to
facilitate that, as long as the worst pitfalls are avoided.
Write to Aaron Kuriloff at aaron.kuriloff@wsj.com
(END) Dow Jones Newswires
January 25, 2017 09:55 ET (14:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Grafico Azioni Seagate Technology (NASDAQ:STX)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Seagate Technology (NASDAQ:STX)
Storico
Da Set 2023 a Set 2024