When news of Donald Trump’s victory over Hillary Clinton first reached Wall Street, the DOW took a slight nose dive. Now that Trump has been sworn into office and is taking swift action to keep his campaign promises, the DOW is responding by topping the 20,000 mark for the first time in history.
The wait is finally over.
Dow 20,000 – a milestone that seemed out of reach and had a science-fiction feel to it at the 2009 market low when it traded at 6,547, 54% below its then-peak – is now a reality.
In a historic moment on Wall Street, the Dow Jones industrial average eclipsed the milestone Wednesday for the first time in its 120-year history. The Dow jumped 155.80 points, or 0.8% to close at a record high of 20,068.51, and touched 20,082, during the day. The rally was broad, with the Standard & Poor’s 500 and the Nasdaq composite also closing at all-time highs.
It took the Dow, a stock gauge made up of 30 of America’s best-known blue-chip companies, just 64 calendar days to climb from 19,000 to 20,000, its second-fastest thousand-point sprint, according to S&P Dow Jones Indices. The climb from 10,000 to 11,000 back in 1999 took 35 days.