Wednesday, the Dow Jones Industrial Average jumped 323 points, closing above 26,000 for the first time in its 121-year history.
Fox News tweeted out the following announcement: “The Dow Jones Industrial Average closed above 26K for the first time ever, closing at a new 1,000 point milestone in 8 trading days; fastest in history. The Nasdaq, and S&P 500 also closed the day at record highs.”
#BreakingNews: The Dow Jones Industrial Average closed above 26K for the first time ever, closing at a new 1,000 point milestone in 8 trading days; fastest in history. The Nasdaq, and S&P 500 also closed the day at record highs. #Dow26K https://t.co/2FQM25E4TB pic.twitter.com/g27N0K2iVL
— FOX Business (@FoxBusiness) January 17, 2018
USA Today reported:
At the closing bell, the Dow Jones industrial average was up 323 points, or 1.3%, to a record 26,115.65. It was the Dow’s best one-day point gain in 14 months, or since the day before Donald Trump was elected president.
The fresh milestone comes just 13 calendar days after the 30-stock index topped 25,000, marking the fastest 1,000-point climb in its history, according to S&P Dow Jones Indices.
The Dow, which rallied 25.1% last year, has continued its surge at the start of 2018 amid rising optimism that tax cuts will lift corporate earnings and the economy. In the first 11 trading days of the year it has risen nearly 1,400 points, or 5.6%.
A few days before Christmas the president signed off on a tax bill that slashed the corporate tax rate to 21% from 35%. Since then, Wall Street analysts have been boosting their 2018 earnings forecasts for U.S. companies at the quickest pace in a decade, providing a fresh tailwind for a market that some skeptics say is pricey.
Dow jumps more than 300 points, closes above 26,000 for first time in its 121-year history https://t.co/wk0ZJTqORt
— USA TODAY (@USATODAY) January 17, 2018
BREAKING: The Dow Jones industrial average closes above 26,000 points for the first time.
— The Associated Press (@AP) January 17, 2018
Dow soars 323 points, closing above 26,000 for the 1st time. The 1.3% gain is the Dow’s biggest since November. https://t.co/A9OlUXl3FI
— CNNMoney (@CNNMoney) January 17, 2018
The Dow closed above 26000 and the Nasdaq topped a key dot-com level in a market pushed by once-wary investors https://t.co/9P47i7QNS0
— The Wall Street Journal (@WSJ) January 17, 2018
Dow ends above 26,000 for first time as stocks rally broadly https://t.co/5AzEmlJlf5
— MarketWatch (@MarketWatch) January 17, 2018
Dr. Milton Wolf of Kansas posted a humorous example of what the media is focused on:
WH: Today the Dow blew past 26,000.
MSM: How many french fries does the president usually eat in a day?
WH: Black unemployment hit an all-time low.
MSM: Did Trump golf today?
WH: ISIS has been decimated.
MSM: Will the president submit to a public weigh-in? pic.twitter.com/c2khnWsrbO
— Dr. Milton Wolf (@MiltonWolfMD) January 17, 2018