Dow surpasses 25,000 for first time, as bull market storms into 2018

Better than expected year-end manufacturing and private payrolls data in U.S. fuel bets that growth and tax breaks will buttress earnings

Jan 5, 2018 @ 1:50 pm

By Bloomberg News

It's a new year and an old pattern in equities, with the Dow Jones Industrial Average sailing past 25,000 for the first time as the bull market rages on.

Gains in companies from Boeing Co. to Wal-Mart Stores Inc. lifted the blue-chip index past the first round-number level of this year after breaching five similar milestones in 2017. It took the measure 35 calendar days to achieve the feat, tying the fastest move on record. The gain of 1,000 points was just over 4 percent.

The gauge broke out of sideways trading in the last two weeks of 2017 as better than expected manufacturing and private payrolls data in the U.S. fueled bets a growth pick-up and tax breaks will buttress earnings. The Dow and the S&P 500 posted their best performance since 2013 last year, fueled by a synchronous expansion in the global economy and a go-slow approach toward withdrawing monetary-stimulus in major markets.

The Dow gained 0.3 percent to 25,006.02 as of 9:35 a.m. in New York. The S&P 500 reached an all-time high, rising 0.3 percent to 2,722, while the Nasdaq Composite advanced 0.4 percent to 7,096.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Here's how we came up with our list of undiscovered talent in mutual funds

Senior columnist John Waggoner talks with assistant managing editor Susan Kelly about how hard work, curiosity and passion landed some fund managers on our list.

Latest news & opinion

SEC advice rule: Here's what you need to know

We sifted through the nearly 1,000-page proposal and picked out some of the most important points.

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

SEC advice rule seeks to tighten reins on brokers

The proposed rule puts new restrictions on brokers, but it is still unclear how strongly the SEC is clamping down.

SEC advice rule hearing updates

Commission says a lot of work ahead, public will have 90 days to comment.

SEC advice proposal unveiling: Here's what to expect

Chairman Jay Clayton will initiate momentous action Wednesday, as the commission meets to debate a rule on broker and adviser standards.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print