Dow hits a new record: 29,000 points - CNN

President Donald Trump tweeted in response to the record that the Dow had risen 11,000 points since his election, adding "the best is yet to come." Stocks have gained 10,676 points since election day 2016.

"Any time the market surpasses a nice round number, it has a positive effect on investor psychology," said Chris Zaccarelli, chief investment officer of the Independent Advisor Alliance. "On the other hand, the larger the index gets, the easier it is to surpass 1,000 points as the percentage increase required to pass the milestone keeps decreasing."

All three indexes briefly hit fresh record highs, but overall stocks had a lackluster day on Friday.

The S&P 500 (SPX), a broader measure of the stock market, finished 0.3% lower. The Nasdaq Composite (COMP) also fell 0.3%.

It's been a choppy start to the year for stocks: Fears over a military conflict between the United States and Iran weighed on markets over the past several days. Meanwhile, hopes for calmer conditions on the trade front ahead of next week's signing of the "phase one" trade deal between America and China helped boost stocks.

Let's block ads! (Why?)

Business - Latest - Google News
January 11, 2020 at 04:18AM
https://ift.tt/2TboV6V

Dow hits a new record: 29,000 points - CNN
Business - Latest - Google News
https://ift.tt/2Rx7A4Y

Bagikan Berita Ini