NEW YORK — On Wall Street,Thursday. The Dow soared 152 points to close above 25,000 for the first time ever.
Just five weeks ago, the Dow hit 24,000, making this the fastest 1,000 point rise in the history of the blue-chip index. Since President Trump was elected, the Dow is up nearly 37 percent.
CBS News business analyst Jill Schlesinger spoke to “CBS Evening News” anchor Jeff Glor about the latest numbers.
“It’s amazing, all major indexes following along here, the Nasdaq, as well as the S&P 500,” Schlesinger said. “This is now the second longest bull market on record.”
China’s service sector expanded to its highest level in more than three years.
“Not just in China, not just in the U.S., also in Europe, where we know we’ve seen such strong growth, companies there are hiring workers at the fastest pace in 17 years,” Schlesinger said.
She adds that corporate tax cuts and loosening regulations are part of the driving force for an optimistic time on Wall Street. But when will the upswing end?
“It’s been over 3,200 days of this bull market. We’re due for a correction, but none in the offing just yet,” Schlesinger said.
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