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CGI’s Duster: Dow Jones tops 25,000 for first time in history- DOW Hits Record
Posted By: RumorMail [Send E-Mail]
Date: Thursday, 4-Jan-2018 10:49:52
|From CGI member Duster:
The DOW just hit 25,000 this morning
The milestone-busting Dow has done it again.
The Dow Jones industrial average topped 25,000 for the first time Thursday, kicking off 2018 where it left off last year with sizable stock market gains powered by a global economic recovery and optimism that the Republican tax-cut bill will provide a fresh boost for U.S. growth and help American companies make more money.
The 30-stock index, which includes leading U.S. companies like Apple, McDonald’s and Wal-Mart, jumped nearly 119 points in early trading to eclipse Dow 25K for the first time in its 121-year history.
At its high point today the Dow as at 25,041.29.
The continued rise in stock prices in 2018 after a 25% gain last year extends a bull market that began in March 2009 and is now the second-longest in Wall Street history, trailing only the nearly 10-year rally in the 1990s.
“Welcome to the bull market,” says Brian Belski, the chief investment strategist at BMO Capital Markets who predicted at the start of the bull that it could last 15 to 20 years and now says the market is being driven higher by improving business conditions.
“Dow 25K is just another milestone, not the top,” Belski adds, noting that too many investors are skeptical of the rally, keeping euphoria at bay. “Market tops are not made just because a certain number is hit.”