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The Dow Jones Industrial Average on Thursday closed above the psychologically significant 31,000 milestone, marking the first such round-number milestone for the benchmark since November, and its fastest move above a 1,000-point marker in about two years.
The 30-stock index closed at 31,041.13, amid a broad-market rally that was propelled, perhaps, by relief after tumult and chaos in the U.S. Capitol and after Georgia runoff election wins by Democrats raised the prospects of more robust relief plans under the administration of Democratic President-elect Joe Biden.
Read: Why the stock market rallied even as a violent mob stormed the Capitol
The move for stocks comes as markets looked past the violent protests by President Donald Trump’s supporters in Washington on Wednesday and after the president subsequently promised an orderly transition of power on Jan. 20.
The finish above 31,000 represents the fastest surge to a milestone, 29 trading days, since the 8 days between 25,000 and 26,000 ending in January 2018, according to Dow Jones Market Data (see attached table):
Dow Jones Market Data
Also worth noting is that the higher the Dow rises, the smaller each 1,000-point move is in percentage terms, but individual investors have tended to pay close attention to the Dow when it carves out fresh milestones.
The broader market finished in record territory, with the Russell 2000 index RUT, +1.89% also surging along with the S&P 500 index SPX, +1.48% and the Nasdaq Composite Index COMP, +2.56%.
Here are a list of the biggest contributors the Dow’s 1,000-point ascent, led by Goldman Sachs Group Inc. GS, +2.14% followed by UnitedHealth Group Inc. UNH, +1.60% and the Walt Disney Co. DIS, -0.30% :
Dow Jones Market Data
