Dow jones industrial average closes above 20,000 points for the first time _ klfy


“It’s a psychological event to get through that big hurdle, that big round number,” said Jeff Kravetz, regional investment strategist at U.S. Binary star system Bank’s Private Client Reserve. Rupiah to usd “It’s really symbolic of what’s going on with investor sentiment becoming much more positive, and that’s going to drive stock prices higher.”

The Dow, which tracks 30 major industrial companies, gained 155.80 points, or 0.8 percent, to 20,068.51. Binary converter calculator The S&P 500 index rose 18.30 points, or 0.8 percent, to 2,298.37. Euro dollar exchange rate today The Nasdaq added 55.38 points, or 1 percent, to 5,656.34.

The market has been marching steadily higher since bottoming out in March 2009 in the aftermath of the financial crisis. Usd inr exchange rate The rally continued after the election of Donald Trump as U.S. Market futures cnn money president last fall. Usd cny chart The Dow first closed above 10,000 on March 29, 1999.

Wednesday’s rally came against a backdrop of optimism on Wall Street that executive actions and policy goals announced by the Trump administration this week on trade, manufacturing and business deregulation will be good for corporate America.

“Whether it’s tax reform or infrastructure spending, any of those tend to be optimistic conversations for the markets currently,” said Darrell Cronk, president of Wells Fargo Investment Institute.

Exchange rate us canadian dollar “We have to wait and see how they play out, obviously. 100 aud to usd The danger here, if there is one, is that the market gets ahead of itself a little bit.”

Most professional investors are skeptical the Dow at 20,000 will have much effect on the market. Gold price in usa per ounce They more often look to the S&P 500 index as a benchmark, because they consider it better representation of the broad market.

“In and of itself, it is just a number,” said Quincy Krosby, market strategist at Prudential Financial. Pound to usd conversion “But what it does is it lifts market expectations, in essence, to continue moving higher.”

If the Dow reaching 20,000 has any impact, it will likely be a psychological one. Stock meaning in urdu Investors have been leery of the stock market for years, unable to stomach the prospect of losing more than 50 percent of their money for a second time if another financial crisis hits.

Last year, investors pulled a net $27.1 billion out of U.S. Futures market hours of operation stock mutual funds and exchange-traded funds, according to Morningstar. Stock market definitions terms A year earlier, they yanked $66.5 billion. Equity meaning in real estate Over the same time, investors plugged a total of $218.6 billion into taxable bond funds.

Anyone who resisted the urge to dump their stock investments through all the tumult of the last decade is now seeing the full benefit of a market with the Dow at 20,000.

A $10,000 investment in the largest U.S. E mini dow trading hours stock mutual fund made a decade ago, before the Great Recession began, would have dropped below $5,000 by March 2009. Binary decision tree But investors who held on even through the worries of another recession hitting, U.S. Commodity futures market debt downgrade, the euro crisis and uncertainties over Britain’s departure from the European Union would now be sitting on nearly $20,000.

Investors also bid up shares in Rockwell Automation, which rose $10.98, or 7.7 percent, to $153.01, and Logitech, which vaulted 15.5 percent. Hockey blackhawks The computer gaming and accessories maker’s shares added $3.90 to $29.

Textron slumped 5.4 percent after the defense contractor’s fourth-quarter revenue missed financial analysts’ estimates. Pound exchange rate history The company also announced it is buying snowmobile maker Arctic Cat in a deal valued at about $247 million. Code translator Textron was the biggest decliner in the S&P 500, sliding $2.65 to $46.73.

Earlier in Asia, Tokyo’s Nikkei 225 surged 1.4 percent after Japan’s government said that the nation had a trade surplus in 2016, its first in six years. Mortgage meaning dictionary Hong Kong’s Hang Seng rose 0.4 percent. Usd to nzd converter South Korea’s Kospi rose 0.1 percent.

Energy prices mostly declined. Us to rmb rate Benchmark U.S. Usd to inr exchange rate western union crude fell 43 cents to $52.75 a barrel in New York. Binary search algorithm example Brent crude, used to price international oils, slid 36 cents at $55.08 a barrel in London.

Among metals, the price of gold slid $13, or 1.1 percent, to $1,197.80 an ounce. Equity finance group Silver fell 21 cents to $16.98 an ounce. Video editor windows 10 free Copper was little changed at $2.71 a pound.

In other energy trading, wholesale gasoline fell 5 cents to $1.52 a gallon, while heating oil slid 3 cents to $1.61 a gallon. Binary arithmetic Natural gas futures rose 5 cents, or 1.6 percent, to $3.33 per 1,000 cubic feet.

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