News Live: Dow tops 25,000 milestone; Asian shares near 2007 peak
Dow tops 25,000 milestone; Wall Street extends New Year’s rally
The Dow industrials broke above the 25,000 level for the first time on Thursday and other major indexes hit closing record highs again, propelled by strong global economic data that extended the New Year’s rally for the stock market. The 30-member blue-chip index crossed five 1,000-point marks in 2017 on solid corporate earnings and hopes for a pro-growth agenda by US President Donald Trump.
It took less than a year for the Dow to add a 5,000-point milestone, which is the fastest since the index was created in May 1896. Wall Street has started 2018 on a strong note. The benchmark S&P index closed above 2,700 for the first time on Wednesday and the Nasdaq settled above 7,000 a day earlier. Both indexes also registered closing record highs on Thursday.
The Dow Jones Industrial Average rose 152.45 points, or 0.61%, to 25,075.13, the S&P 500 gained 10.93 points, or 0.4%, to 2,723.99 and the Nasdaq Composite added 12.38 points, or 0.18%, to 7,077.92.