WASHINGTON – The Dow Jones Industrial Average hit a record high on Thursday, closing above 25,000 for the first time.
The Dow ended at 25,075.13, an increase of 152.45 points from Wednesday’s close.
The S&P 500 index rose 10.93 points to 2,723.99. The NASDAQ Composite Index gained 12.38 points to close at 7,077.91.
The Dow’s record close comes just three days after trading began for the year and seems to confirm the prediction of many market analysts that President Donald Trump may complete his first full year in office with a near-unprecedented market rally and one of the strongest stock market records of any sitting president.
When Trump assumed office on Jan. 20, the Dow closed at 19,827.25. The S&P 500 closed at 2,271.31. The NASDAQ closed at 5,555.33.
Many analysts have attributed the market rally to months of anticipation over tax cuts that preceded December’s passage of the most comprehensive tax reform package since the Reagan administration. Analysts also have attributed the rally to the Trump administration’s decision to roll back many Obama-era environmental regulations, which have allowed certain sectors of the energy industry to expand and thus hire more workers.
January stock gains have historically outpaced that of ensuing months.