Dow breaches 25,000 in early trading

FAN Editor

The Dow Jones Industrial Average breached 25,000 points in early trading Thursday, putting the stock index on track to do something it has never done before.

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If the Dow closes above 25,000 points Thursday, it will mark just 23 days since it closed above 24,000 for the first time. This would be the shortest stretch between 1,000 point milestones, ever.

So far the Dow Jones Industrial Average has crossed six 1,000-point milestones since President Donald Trump’s election on Nov. 8, 2016. A finish above 25,000 would be the seventh 1,000 point milestone.

The Dow is on track for its second record close in a row and the 90th since Election Day.

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“The Dow hitting 25K is symbolically important, but the real story is never just a number—it’s the underlying strength that is pushing markets this high, Steve Claussen, Vice President  of Trader Strategy at E*TRADE told FOX Business.

“It’s worth noting, though, that in the few trading days of 2018, the Dow is lagging behind tech and the S&P. So there’s a lot of attention on the Dow, but it certainly doesn’t paint the whole picture. 2018 is off to a great start, though, and strong holiday sales from retailers are bolstering the belief that consumers are opening up their wallets and spending. Pair that with the strong gains in non-farm payrolls from today’s ADP and tax reform and you’ve got an effective one-two punch for the bulls,” Claussen added.

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ADP released its December non-farm payrolls Thursday morning, which showed the U.S. economy added 250,000 jobs, topping the 190,000 analysts were expecting. The report sets the stage for a positive surprise in the December employment report due Friday.

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