Via Free Beacon:
The Dow Jones Industrial Average passed 25,000 on Thursday morning, representing a milestone of the fastest 1,000-point gain in the index’s history, the Wall Street Journal reported.
In 2017, the Dow hit five of these 1,000-point milestones, which is the most it has seen in the history of the index.
“Faster economic growth around the globe and improving sentiment from both consumers and businesses—both of which were elusive for many years since the financial crisis a decade ago—have helped power this rally in recent weeks,” the article states.
Kate Warne, an investment strategist at Edward Jones, said that a year ago many investors believed stocks would fall. This year she has seen a shift in sentiment.
“The turn of the calendar year doesn’t change the dynamics of economic growth and earnings growth,” Warne told the Journal. “We shouldn’t be surprised that markets continue to move higher because fundamentals continue to be positive and investor optimism is actually improving rather than investors becoming more cautious.”