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Thursday, July 18, 2024 | Back issues
Courthouse News Service Courthouse News Service

Dow Jones Industrial Average Tops 25,000 for First Time

The Dow Jones industrial average traded above 25,000 points for the first time Thursday, five weeks after its first close above 24,000.

(CN) — The Dow Jones industrial average traded above 25,000 points for the first time Thursday, five weeks after  its first close above 24,000.

The Dow, a measure of the performance of the stocks of 30 U.S. blue chip companies, saw a 25 percent gain in 2017, and shows no sign of slowing down. Shortly before noon on Thursday, the Dow was up 53 points to 25,077.

Among the companies enjoying substantial gains on the index Thursday were Boeing and Apple. Also performing well were Microsoft, JPMorgan Chase and Wells Fargo.

The Dow, which was founded in 1896 and is the oldest barometer of the U.S. stock market, has nearly quadrupled in value from its low during the financial crisis in early 2009.

The Standard & Poor's 500 index, a much broader index which professional investors prefer to use as their benchmark for large U.S. stocks, rose 13 points to 2,726 Thursday morning.

The Nasdaq composite, which is heavily weighted with technology and biotech companies, added 15 points to 7,080. The Nasdaq reached a milestone of its own this week, closing above 7,000 points for the first time Tuesday.

The Dow has made a rapid trip from 24,000 points on November 30, partly on enthusiasm over passage of the Republican-backed tax package, which could boost company profits this year with across-the-board cuts to corporate taxes.

On Thursday, White House spokeswoman Sarah Huckabee Sanders tweeted "Dow 25k. New jobs 250k+.Trump policies working. Trump economy booming."

In other economic news on Thursday, payroll processor ADP said companies added 250,000 jobs in December, up from 185,000 in November, the most jobs in a month since March.

The Associated Press contributed to this report.

Categories / Economy, National

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