December 9, 2016
Stock benchmarks just did something they haven’t done in nearly 20 years
Alaric Securities
Dow, S&P 500, Nasdaq Composite, Russell 2000, Dow transports all close at all-time highs on the same day.
Five major U.S. stock-index benchmarks finished at records on the same day—something that hasn’t happened in more than 18 years, according to Dow Jones data.
On Thursday, the Dow Jones Industrial Average DJIA, +0.33% closed up 65 points, or 0.3%, at 19,614.81. It was the 13th record finish for the blue-chip gauge since the election.
The S&P 500 index SPX, +0.22% gained 0.2% to end at a record 2,246.19 and the Nasdaq Composite Index COMP, +0.44% wrapped up 0.4% higher at a record 5,417.36, marking its first record since Nov. 29 and joining the other two stock gauges which finished at all-time highs Wednesday.
Meanwhile, the Dow Jones Transportation Average DJT, +0.53% also extended its climb to new heights, ending at a fresh record of 9,421.08, while the Russell 2000 index RUT, +1.60% a gauge of small-capitalization stocks, also closed at a record of 1,386.37. It was the first time all five of those benchmarks scored a record close since March 16, 1998.
Equities have been a record-setting run on the back of the belief that President-elect Donald Trump will implement pro-business policies and boost the economy.
Article and media originally published by Mark DeCambre at marketwatch.com