Major equity markets in US all surged on Tuesday and started the first full trading day of 2017 on a positive note but investors are keeping their eyes on the blue chip, Dow Jones futures, as they are expected to reach the historic 20000 mark.
Getting There
The Dow Jones futures finished up Tuesday session gaining 119 points and settled at 19 881.76 points, just 118 points short of touching the elusive 20000 level. In the early trading, they posted a 71-point gain but made a few retreats before bouncing back again before the session closed.
Dow’s current level was not expected few months back but it managed to climb on its recent mark despite facing controversial shocks like Brexit and the Trump Victory last year.
The unexpected Donald trump victory gave the index a major boost and paved the way to the 20K mania as the Dow continued surging until December and posted an increase of 8.5%.
After the Election Day, it settled to 18 332.75 points and kept a strong rally and registered 23 record highs in 26 session that saw 20K mania very much possible to be achieved. On December 20, Dow futures ended at 19 974.62, the closest the index has come to its historic finish but gave up some gains at the end of year at 19762, still1549 points ahead of its election day finish.
2016 was a phenomenal year for the DJIA as it posted an annual gain of 13.4% and is on a stronger position to achieve the never-before-reached 20k mark in a few days or months from now.