Dow Jones crossed 25,000 for first time
Reportedly, the American stock markets climbed to new highs last week, because of the blue chip named Dow Jones Industrial average crossed about 25,000. The gains considered as an eye-catching run for the Wall Street, which has collected over the last twelve months amid growth in the American and global economics.
The stock market of the USA got another boost on Thursday, after the ADP national employment report stated that the employers added 250,000 jobs in the month of December.
And thus the United States is due to release official job figures on Friday.
In the 1st week of January 2018, Dow Jones hits 25,000
The Dow Jones already gathered about 25 percent last year, with the inclusion of 5,000 points and also crossing the 24,000 mark at the end of the November month. On Thursday, Dow Jones recorded growth of 152 points or 0.61 % to nearly 25,075, by boosting the index for one of its fastest 1,000 point growths in the history.
The Chief financial analyst at Bankrate.com said that the gains were no surprise. At the end of November, Dow 25,000 is nearly 4.2 % up from the amount 24,000.
He said that, “With the positive fundamentals including continued job growth, low interest rates, an expanding economy and tax reform which promise to raise the corporate earnings and hence it’s no surprise to see the market continuing to gain.”
In recent days, the S&P 500 and Nasdaq have also hit hug milestones. In the first day of 2018 trading the tech-heavy Nasdaq closed more than 7,000 and on Thursday, the index closed over 12.38 points or 0.18 percent at the rate of 7,077.9.
The S&P 500 topped 27,000 on Wednesday and meanwhile climbed 10.9 points or 0.4 percent to 2,723.99 in the Thursday’s morning trade.
The analysts have also predicted that the additional stock market increases in the year 2018, but also expect them to be much more limited than the previous year.