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

Featured video

Events

3 Questions to ask yourself when making your succession plan

Michael Futterman from Janus Henderson Investors has sage advice for advisers as they approach retirement.

Latest news & opinion

The power of philanthrophy shifts to women, and advisers are taking notice

Philanthropic women are growing in number — and stature.

Cetera brokers may go elsewhere with no stay bonuses on horizon

Some may feel spurned and leave, while others will simply shrug off latest slight and stay.

Fidelity backs away from being 'point in time' fiduciary for 401(k) plans

Some advisers think this indicates other providers will pivot in light of DOL fiduciary rule's death.

Morgan Stanley CEO is happy that brokers are staying put

Firm has seen little attrition since it dumped the broker protocol last fall, Gorman says.

Bills to reform adviser regulation, increase sophisticated investors and protect seniors pass House

Measures included in package of 32 bipartisan bills meant to ease rules, spur investment

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