Dow Closes Above 25,000 as 2-Year Rally Rolls On
Posted January 4, 2018 5:13 p.m. EST
Updated January 4, 2018 5:18 p.m. EST
The Dow Jones industrial average on Thursday closed above 25,000 points for the first time, setting a record for the 132-year-old index.
The Dow, which broke though the 25,000 barrier shortly after trading opened in the morning, ended the day 152 points higher, at 25,075.13, a gain of 0.6 percent.
The other major stock indexes also gained. The Standard & Poor’s 500 index, a much broader index, closed at 2,723.99, a gain of 10.93 points or 0.4 percent. The Nasdaq composite rose 12.38 to 7,077.91, a gain of 0.2 percent.
The Dow’s climb continues an ascent that began in early 2016. Other major indexes have also reached all-time highs in recent days, including the S&P 500 and the Nasdaq.
Underpinning much of the growth is a belief that corporate America will enjoy economic tail winds in 2018, including benefits from the recently passed Republican tax overhaul. In the December round of economic projections, the median forecast of Federal Reserve officials was that the U.S. economy would grow 2.5 percent this year, up from a previous estimate of 2.1 percent.