Dow Jones Hits 20,000 for First Time Ever

After flirting with the milestone for months, the Dow Jones Industrial Average hit 20,000 Wednesday for the first time in its 120-year history.

The Dow has been up about 9 percent since President Donald Trump’s election on Nov. 8, according to Marketwatch. Both the Nasdaq Composite and S&P 500 indexes also saw record highs with gains of 8 percent and 7 percent respectively over the same time period.

The 20,000 mark is a ready signal to investors of a strong bull market as President Trump continues to push his pro-business agenda ranging from corporate tax cuts, infrastructure improvements and economic growth.

“His economic plan projects 3.5 percent growth per year on average,” said Brien Leahy, MB Financial Bank Senior Vice President, Branch Banking.

Don’t Miss: Donald Trump’s 20 Changes for the U.S. Economy

Just six days into his presidency, the market milestone came less than 24 hours after Mr. Trump signed executive orders focusing on deregulations. The orders will make it easier for energy companies to build the controversial Keystone XL Pipeline and for completion of the Dakota Access pipeline.

On Wednesday, the President was expected to announce new executive orders on immigration and discuss the his highly hyped wall along the U.S.-Mexico border. 

The Dow first hit the 19,000 mark 42 days ago on Nov. 22. It closed Wednesday at 20,068.51, making its rise the second-fastest 1,000 point gain in history, according to Marketwatch.

Up Next: 10 Bold Stock Market Predictions for 2017

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GOBankingRates Staff

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Dow Jones Hits 20,000 for First Time Ever
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