NEW YORK (AP) — Dow Jones industrial average eclipses 20,000 for the first time; cheers from the floor of the New York Stock Exchange. </s> NEW YORK (AP) — Dow Jones industrial average eclipses 20,000 for the first time; cheers from the floor of the New York Stock Exchange.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. </s> Dow Jones industrial average closes above 20,000 points for the first time. </s> The Dow Jones industrial average closes above 26,000 points for the first time. </s> The Dow closed above 26,000 for the first time Wednesday, continuing an early-year stock surge that has pushed the U.S. market to fresh records.

At the closing bell, the Dow Jones industrial average was up 323 points, or 1.3%, to a record 26,115.65, according to preliminary numbers.

The fresh milestone comes just 13 calendar days after the 30-stock index topped 25,000, marking the fastest 1,000-point climb in its history, according to S&P Dow Jones Indices.

The Dow, which rallied 25.1% last year, has continued its surge at the start of 2018 amid rising optimism that tax cuts will lift corporate earnings and the economy. </s> Dow Jones Closes Above 20,000 Points For First Time Ever

The Dow Jones Industrial Average on Wednesday closed above 20,000 for the first time ever. The stock market has been on an tear since the election of Donald Trump. </s> Jan 16 (Reuters) - The Dow Jones Industrial Average touched the 26,000-mark for the first time on Tuesday and other Wall Street indexes climbed as strong earnings from UnitedHealth and Citigroup helped lift the sentiment.

The Dow Jones Industrial Average rose 198.99 points, or 0.77 percent, to 26,002.18. The S&P 500 gained 13.76 points, or 0.493856 percent, to 2,800. The Nasdaq Composite added 45.95 points, or 0.63 percent, to 7,307.01. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D‘Silva) </s> On Wednesday, the Dow Jones Industrial Average finished above 20,000 for the first time. The barrier had been a psychological line of resistance since the post-election rally began. And it took just 42 days to make the climb of 1,000 points. It was the second fastest 1,000 points in history. According to The Wall Street Journal, the climb was second only to the Dow’s 1,000-point 24-day climb in the 1999’s dot-com boom.

Both the Dow industrials and the S&P 500 rose 0.8%, and the Nasdaq gained 1%. All three major indices closed at record highs buoyed by expectations of pro-business policies under President Donald Trump.

Boeing Co (NYSE: ) led the Dow 30, climbing 4.2% after it beat fourth-quarter earnings expectations. Caterpillar Inc. (NYSE: ) rose 2% and JP Morgan Chase & Co (NYSE: ) and Goldman Sachs Group Inc (NYSE: ) gained 1.6% and 1.5% respectively.

“Risk-On” strategies drove bonds lower, sending the 10-year Treasury’s yield to 2.5% from 2.4% on Tuesday. Gold fell 1.2% to $1,195.90 per ounce. Crude Oil (WTI) fell 0.8% to $52.75 per barrel.

At the close, the Dow Jones Industrial Average gained 156 points to a new closing high at 20,069, the S&P 500 gained 18, closing at 2,298, the Nasdaq rose to 5,656 for a gain of 55 points and the Russell 2000 closed at 1,382, gaining 13 points. The NYSE’s primary exchange traded 880 million shares with total volume of 3.8 billion shares. The Nasdaq crossed 1.9 billion shares. On the Big Board, advancers outpaced decliners by 1.8-to-1, and on the Nasdaq, advancers led by 2.4-to-1. On the NYSE Blocks fell to 6,263 from 6,771 on Tuesday.

There are many new projections for the Dow Jones Industrial Average. Most aim at a further advance to the 20,220 area. The S&P 500, however, is not so visible. Assuming that the 500’s recent breakout was pushed by a “continuation gap,” my minimum target for it is 2,322 (close), or 2,370 (intraday).

Conclusion: With a trailing 12-month P/E ratio for the S&P 500 at over 24X and a forward 12-month P/E at over 17X, the consideration of new positions should be closely examined. Only those undervalued stocks, like our Trade of the Day, should be considered for trades. Recent run-ups that collect public attraction should be avoided since whipsaws from current levels could occur at any time.

Another warning: The recent AAII bullish percent has risen to 44.7%, Neutral is at just 23% “the bottom of its typical range.”

To see a list of the companies reporting earnings today, click here.

For a list of this week’s economic reports due out, click here.



Tell us what you think about this article! Drop us an email at editor@investorplace.com, chat with us on Twitter at @InvestorPlace or comment on the post on Facebook. Read more about our comments policy here. </s> The Dow Jones Industrial Average has closed above 21,000 for the first time, at 21,115.55 marking one of the fastest moves to the milestone.

Several weeks ago, the gauge closed at 20,000, meaning the 1,000 jump to 21,000 took place in just 24 days, tying for the fastest ever such jump with a trading session in May 1999, Market Watch reported.

Since US President Donald Trump's inauguration, there has been increased confidence in the market, although a "wait and see" attitude remains as the Republican's policies have yet to come to fruition.

However, it appears there is increased certainty in the market as optimism about the future of the US economy grows, and the possibility of an interest rate hike appears not to have dampened such optimism.

Indeed, the market closing above 21,000 follows a record-setting 12-day winning streak, with only a slight snap ahead of Trump's first ever joint session address to Congress.

The Dow Jones Industrial Average dropped 25.2 points, or 0.1%, to settle at 20,812.24 on Tuesday. The blue-chip gauge gained 4.8% in February after coming off its longest streak since 1987. According to Dow Jones Data Group, had the Dow posted gains on Tuesday, it would have marked its 13th straight record for the first time in its history.

"Investors are setting up to potentially sell the news," Adam Sarhan, CEO of 50 Park Investments, told CNBC ahead of Trump's address. "Investors have been 'buying the rumour', in this case Trump's speech, and now there's a lot of pent-up selling" (if the president did not deliver what the market wants).

However, since the president's speech, the market has risen once again.
The Dow Jones Industrial Average breaks 20,000 for the first time ever.