The Dow finishes above 31,000, achieving the fastest climb from 1,000 points to new milestone in 2 years

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EXTRA MARK

The Dow Jones industrial average closed above the psychologically important 31,000 milestone on Thursday, which was the first such round milestone since November for the benchmark, and its fastest move above a 1,000-point mark in about two years.

The 30-share index closed at 31,041.13, amid a march on a broad market that may have been fueled by relief from the turmoil and chaos in the U.S. Capitol, and after the victory election in Georgia by the Democrats, the prospects for more robust aid plans under the government. of Elected Democratic President Joe Biden.

Read: Why the stock market rose even when a violent crowd stormed the Capitol

The move to shares comes as markets looked past the violent protests by President Donald Trump’s supporters in Washington on Wednesday and after the president promised an orderly transfer of power on January 20.

The finish above 31,000 represents the fastest rise 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):

It is also noteworthy that the higher the Dow rises, the smaller each move of 1,000 percent in percentage, but individual investors have tended to pay attention to the Dow as it devises new milestones.

The broader market ended in a record high, with the Russell 2000 Index also rising along with the S&P 500 Index and the Nasdaq Composite Index.

Here is a list of the biggest contributors to the 1000-point Dow rise, led by Goldman Sachs Group Inc. followed by UnitedHealth Group Inc. and the Walt Disney Co.