There is no stopping the Dow to steal the show.
The Dow Jones industrial average came up as the biggest winner in the stock market on Wednesday session as the index touched its psychological level of 20000 for the first time in more than a century, boosted by strong batches of corporate earnings and hopes on economic growth under the President Donald Trump administration.
Creating a History
The blue chip index poisedly collected additional 155.80 points, or 0.8 advancement at the close, to settle at the record-setting 20 068.51 mark, a milestone for the benchmark that has never reached the mark in its more than 100 year- history.
Investors have been closely watching the index since it touched the 19000-print last November after the victory of Trump over Hillary Clinton in the presidential elections, which pushed stocks, including the Dow Jones, in their respective highs.
The historical close notched yesterday was driven by the strong corporate earnings posted by the major companies listed in the Dow including Boeing Co., which shares made a 4.2% leap after its profits came soaring on 1% tick up from its commercial plane sales while Caterpillar’s stocks shot up 2%.
Goldman Sachs, which has been one of the main pillars of Dow’s rally, has now contributed 154.6 total points in the benchmark, as financial sectors are believed to gain benefit from Trump’s loose regulation and lower corporate taxes.
Now that the Dow has done the improbable, investors are shifting their sentiments whether the index can pull off another shocker and reach 21000-mark.
Nothing is cast in stone, but under the Trump presidency, markets should expect the unexpected.