Dow flirts with a fresh milestone: 22,000
Source: marketwatch.com
Tuesday, Aug 01, 2017 06:31 by InvestingPie

The Dow Jones Industrial Average on Tuesday stepped ever closer to a psychological milestone at 22,000.

The 30-component Dow industrials DJIA, +0.43% hit the latest in a string of all-time highs on Monday finished up 0.3% at 21,891.12 and was set to storm higher in Tuesday trade.

The Dow last hit 21,000 on March 1, but has advanced in fits and starts over the past five months amid growing doubts about how quickly President Donald Trump can implement pro-growth policies pledged during his campaign for the White House. A late-Friday defeat in passing a bill to revamp the Affordable Care Act, known as Obamacare, underlined those fears last week.

A close at or above 22,000 would represent the sixth fastest move to a 1,000-point milestone for the Dow at 108 trading sessions. It would also mean the blue-chips would have hit three milestones, or moved at least 3,000 points in the space of a single year. the most of any calendar move for the Dow. Of course, the higher the DJIA rises, the smaller each 1,000 point move is in percentage terms.

The blue-chip gauge has enjoyed a relatively steady advance, powered by stellar moves in shares of plane maker Boeing Co. BA, +0.36% which has been a key driver of the price-weighted average over the past six months and notable over the past week. Boeing shares have climbed 56% so far this year, making it the best performer in the benchmark and the fifth best year-to-date performer in the broader-market S&P 500 index SPX, +0.32%

Check out the table of the Dow’s milestones below:

Trading sessions between 1,000 point milestones Dow’s 1,000-point milestone Dates of first close above 1,000-milestone
24 11,000 5/3/1999
24 21,000 03/01/2017
42 20,000 01/25/2017
59 14,000 7/19/2007
85 7,000 2/13/1997
105 8,000 7/16/1997
108 22,000 ?
108 18,000 12/4/2014
127 13,000 4/25/2007
139 16,000 11/21/2013
153 17,000 7/3/2014
182 9,000 4/6/1998
189 5,000 11/21/1995
226 6,000 10/14/1996
246 10,000 3/29/1999
483 19,000 11/22/2016
975 4,000 2/23/1995
1,080 3,000 4/17/1991
1,460 15,000 5/7/2013
1,879 12,000 10/19/2006
3,573 2,000 1/08/1987
21,652 1,000 11/14/1972

The blue-chip average’s march toward 22,000 wasn’t missed by President Trump:

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Very informative
05-03 04:23 by Liam
The same day Trump spoke with Reynolds
01-29 04:43 by Yavor737347
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