Markets Right Now: Dow Jones industrials breach 20,000

NEW YORK — The latest on developments in financial markets (All times local):

4:00 p.m.

The Dow Jones industrial average closed above 20,000 points for the first time, the latest milestone in a record-setting drive for the stock market.

It’s been two months since the Dow crossed 19,000 points. Other major U.S. indexes also closed at all-time highs Wednesday.

Banks and other financial companies posted the biggest gains. Wells Fargo jumped 3.7 per cent.

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Industrial companies also rose sharply. Boeing surged 4.2 per cent, the biggest gain in the Dow.

The Dow, which tracks 30 major industrial companies, surged 155 points, or 0.8 per cent, to 20,068.

The Standard & Poor’s 500 index rose 18 points, or 0.8 per cent, to 2,298. The Nasdaq composite rose 55 points, or 1 per cent, to 5,656.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.52 per cent.

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11:45 a.m.

The Dow Jones industrial average has crossed through 20,000 points for the first time, the latest milestone in a record-setting drive for the stock market.

The other major U.S. stock indexes were also moving higher in midday trading Wednesday, led by banks and other financial companies.

Strong earnings from Boeing and other big companies drove the rally, extending gains from the day before. Boeing jumped 4.6 per cent, the biggest gain in the Dow.

The Dow, which tracks 30 major industrial companies, was up 136 points, or 0.7 per cent, at 20,049.

The Standard & Poor’s 500 index rose 13 points, or 0.6 per cent, to 2,293. The Nasdaq composite rose 40 points, or 0.7 per cent, to 5,641.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.50 per cent.

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9:35 a.m.

The Dow Jones industrial average is trading over 20,000 points for the first time, the latest milestone in a record-setting drive for the stock market.

The market has been marching steadily higher since bottoming out in March 2009 in the aftermath of the financial crisis. The rally continued after the election of Donald Trump as U.S. president last fall.

The Dow was up 102 points, or 0.56 per cent, to 20,018.

The Nasdaq rose 48 points, or 0.9 per cent, to 5,600. The Standard & Poor’s 500 index rose 10 points, or 0.5 per cent, to 2,290.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.51 per cent.

The Associated Press