Flirting with 20,000: Could this be the week the Dow goes over the top?
NEW YORK — Could this finally be the week that the Dow hits 20,000?
The stock index has been flirting with that nice, round number for a week, as the market has continued is stunning post-election rally.
The Dow cleared 19,000 on November 22, and it came within 44 points of hitting 20,000 last Wednesday. But investors soured a bit after the Federal Reserve raised its key interest rate, and the Dow has fallen back from its all-time high.
Hitting 20,000 this year would be an achievement few would have thought possible at the beginning of 2016, when the Dow slumped 2,000 points in the first month, falling below 15,500 points.
Few too predicted that the Dow would rally after a Trump election victory. The Dow futures initially tanked 800 points on election night, but the index actually soared the day after.