The market's latest milestone, reached on Tuesday just after the opening bell, easily sets the record for the fastest rise between 1,000-point barriers. The Dow has been around for 121 years.
The Dow has spiked almost 8,000 points, or about 42%, since President Trump's election. The stock market boom reflects enormous excitement on Wall Street about record corporate profits and strong economic growth at home and abroad -- all of which could be boosted by the GOP tax overhaul.
"The market has certainly come out of the gates fast in 2018 after a stellar 2017," said Art Hogan, chief market strategist at Wunderlich Securities.
It's true that 1,000-point milestones come easier at these lofty levels. On a percentage basis, it's just not nearly as big of a move as it was from 10,000 to 11,000.
Still, the relentless surge is raising concern even among some bulls that things are getting out of hand.
Dow 26,000: The stock market is a runaway freight train
- by: Matt Egan
- 01-16-2018
- Source:
CNN Money
- 04/09/2021