Dow Passes 21,000, Dollar Jumps as Rate Hike Looms: Markets Wrap
- U.S. equities add to records as Trump speech light on details
- Chinese factory data add to growing evidence of global growth
Dow Jones Industrial Average Tops 21,000 for First Time
The Dow Jones Industrial Average surged 300 points to top 21,000 for the first time, the dollar advanced and Treasuries fell as investors grew increasingly confident global economic growth is accelerating, clearing the path for higher interest rates in America.
Major lenders led gains among equities, with Goldman Sachs Group Inc. and JPMorgan Chase & Co. trading at all-time highs as the odds for a rate hike in two weeks swelled past 65 percent and President Donald Trump’s address to Congress did little to alter views that his administration will seek pro-growth policies. Industrial and energy shares also surged as the S&P 500 Index rallied the most since the day after the election. Technology and small-cap indexes ended at records.