Dow Jones Industrial Average closes above 23,000 for the first time in its history

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[h=1]Dow Jones Industrial Average closes above 23,000 for the first time in its history[/h]

• The close above 23,000 was driven by a jump in IBM after the computing giant hinted at a return to revenue growth
• It also came just 54 trading days after the Dow hit 22,000 on August 2
• This is the fourth time this year the Dow has reached a 1,000-point milestone
• President Donald Trump bragged about economic success on Twitter

 

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The Dow Jones industrial average closed above the 23,000 level for the first time on Wednesday, driven by a jump in IBM after the computing giant hinted at a return to revenue growth.
The close above 23,000 came just 54 trading days after the Dow hit 22,000 on August 2.
That's roughly half the time it took the index to move from 21,000 to 22,000, and marks the fourth time this year the Dow has reached a 1,000-point milestone.
President Donald Trump bragged about the record high on Twitter Wednesday afternoon.

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The Dow Jones industrial average closed above the 23,000 level for the first time on Wednesday driven by a jump in IBM after the computing giant hinted at a return to revenue growth(above a screen on the trading floor of the New York Stock Exchange)

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The close above 23,000 came just 54 trading days after the Dow hit 22,000 on August 2 (above a trader wears a hate reading Dow 23,000 on Wednesday at the NYSE)

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That's roughly half the time it took the index to move from 21,000 to 22,000, and marks the fourth time this year the Dow has reached a 1,000-point milestone.

Ian Winer, head of equities at Wedbush Securities in Los Angeles, said: 'Retail investors continue to pour into the marketplace, and with each headline about a new record, and especially round numbers like that, people tend to feel like they're missing out and you kind of suck more people into the market.'
'Ultimately, the only way you're going to top is by getting everybody all in. And we're getting close.'
The Dow had briefly surpassed the all-time peak on Tuesday but closed just shy of it.
Shares of IBM, which beat expectations on revenue, jumped 8.9 per cent and accounted for about 90 points of the day's 160 point-gain in the blue-chip index.

 

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Solid earnings, stronger economic growth and hopes that President Donald Trump may be able to make progress on tax cuts have helped the market rally this year.
The S&P 500 and Nasdaq also hit record closing highs.



The Dow Jones Industrial Average rose 160.16 points, or 0.7 per cent, to end at 23,157.6, the S&P 500 gained 1.9 points, or 0.07 per cent, to 2,561.26 and the Nasdaq Composite added 0.56 points, or 0.01 per cent, to 6,624.22.
'Today the catalyst is clearly IBM ... which appears to have turned the corner. It gave the Dow the boost to stay over 23,000,' said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.
The financial index jumped 0.6 per cent, led by bank stocks recovering from recent post-earnings losses. Bullish calls by brokerages helped to support the bank shares.
Bank shares had run up ahead of recent results, which resulted in some selling following the earnings news, said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.
Abbott rose 1.3 per cent after the company's profit beat estimates on strong sales in its medical devices business.
After the bell, shares of eBay fell 4 per cent following results.
Advancing issues outnumbered declining ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.
About 5.6 billion shares changed hands on U.S. exchanges, below the 5.9 billion daily average for the past 20 trading days, according to Thomson Reuters data.

 

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[h=3]HISTORICAL EVENTS AFFECTING THE DOW[/h]

• 1917 - US declares war on Germany joining WWI
• 1918 - WWI Ends
• 1923- Japan Earthquake
• 1929 - Great Depression
• 1932 - Bank Panic
• 1938 - The New Deal
• 1939 - WWII begins
• 1942 - Battle of Midway
• 1949 - Foreign Currencies Devalued
• 1957 - Sputnik I
• 1962 - Cuban Missile Crisis
• 1966 - US Bombs North Vietnam for the first time
• 1970 - US and South Vietnamese invade Cambodia
• 1974 - President Nixon resigns
• 1982 - Penn Square Bank closed by regulators/Falkland Islands War
• 1987 - Financial Panic/Stock Market Crash/Iraq Attacks USS STARK
• 1990 - Iraq Invades Kuwait
• 1998 - US Intervenes to Support the Yen
• 2001 - 9/11 Terrorist Attack on US World Trade Center
• 2002 - War on Terror Begins
• 2008 - Credit Crisis

 

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#MAGA...Go President Trump Go!

 

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Donald J. Trump‏Verified account @realDonaldTrump 1h1 hour agoMore


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[FONT=&quot]Stock Market hits another all time high on Friday. 5.3 trillion dollars up since Election. Fake News doesn't spent much time on this!
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winning

 

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Wheres DaFinch?

 

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[FONT=&quot]3:51 PM - 21 Oct 2017​

Donald J. Trump‏Verified account @realDonaldTrumpFollowingFollowing

@realDonaldTrump​

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[/FONT]Just out, but lightly reported: "Fewest jobless claims since 1973 show firm U.S. Job Market" Lowest since March 1973. @bpolitics

 

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