Dow cracks 20,000 mark for first time

The Dow surged above the 20,000 mark for the first time in history as a solid earnings season and optimism over possible Trump policies fueled investor optimism.
Traders work on the floor of the New York Stock Exchange (NYSE) in late morning trading after the Dow Jones industrial average crossed the 20,000 mark for the first time.
Traders work on the floor of the New York Stock Exchange (NYSE) in late morning trading after the Dow Jones industrial average crossed the 20,000 mark for the first time.PHOTO: AFP

The Dow Jones Industrial Average traded above 20,000 for the first time yesterday, resuming a rally that began in the wake of United States President Donald Trump's surprise election victory.

Yesterday's rally was reignited by Mr Trump's signing of numerous executive orders since his inauguration last Friday.

The index grew by 5.3 per cent over 64 days in the move from 19,000 to 20,000, said Bloomberg. It last came within a point of the historic level on Jan 6, as investors banked on pro-growth policies and tax cuts from the new administration, according to Reuters.

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The Dow Jones rally yesterday was reignited by Mr Trump's signing of numerous executive orders since his inauguration last Friday.

A version of this article appeared in the print edition of The Straits Times on January 26, 2017, with the headline 'Dow cracks 20,000 mark for first time'. Print Edition | Subscribe