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Dow fresh record – above 21,000

Wednesday, March 1, 2017 7:59
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Expectations of higher US interest rates this month powered the Dow Jones Industrial Average index to a fresh record high – above 21,000 for the first time.

The 30-stock ticker which earlier this year broke above 20,000, marked the new milestone soon after the Wednesday opening.

The Dow advanced a convincing 1% to 21,016 at the last look. It marked a record high of 21,017.77.

Bank Goldman Sachs (NYSE:GS) which represents a quarter of the upside gains of the Dow by itself, was up 2.7% at $254.84 early on Wednesday.

Overnight Fed officials like influential New York Fed’s William Dudley cleared the way for a rate hike at this month’s Fed meeting. Fed funds rates now price in more than a 8-% chance of a hike this month.

Story by ProactiveInvestors


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