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Dow Tops 20,000 as Earnings Feed Rally, Bonds Fall: Markets Wrap

  • Blue chip index surges more than 100 points to take milestone
  • Mexican peso slumps on report Trump will seek border wall
Bloomberg business news

The Dow Jones Industrial Average Surges Past 20,000

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The Dow Jones Industrial Average climbed past 20,000 for the first time as stocks around the world extended a rally after corporate earnings reignited investors’ optimism in economic growth. Bonds sold off with oil.

Boeing Co.’s best rally in three months lifted the index for American blue chips past the round-number milestone after a handful of rallies fell short in the past month. Financial and technology shares surged as investors piled into stocks that benefit from economic growth. The yield on 10-year Treasury notes topped 2.50 percent. The dollar slipped, raising concern that the reflation trade in currencies may have run its course. The Mexican peso surged the most in 11 months even as Donald Trump ordered construction of a border wall. Oil fell on increased U.S. stockpiles.