Stock market’s velocity after Trump has investors talking Dow 20,000—and beyond
Do I hear 20,000? 21,000? That’st the subject Wall Street investors are starting to consider after postelection ebullience has stretched equity markets deeper into the record books since Nov. 8.
The Dow Jones Industrial Average DJIA, +0.36% registered back-to-back record closes Thursday — it has scored 13 record finishes since Donald Trump’s election — putting the blue-chip gauge just 386 points away from hitting the psychologically significant level of 20,000.
Other stock benchmarks, including the Nasdaq Composite Index COMP, +0.27% and Russell 2000 index RUT, -0.16% finished at records Thursday and were trading higher early Friday. Also read: MarketWatch’s stock snapshot.
Assuming that the indexes continue to lurch forward into the next week or two, that puts the gauge on pace to log the fastest 1,000-point rally since the Dow moved from 10,000 to 11,000 in from March 29, 1999, to May 3, 1999 — a 24-day trading day span, according to Dow Jones data.
The Dow closed above 19,000 on Nov. 22 and took 483 trading days to span the 1,000-point bridge.