A resurgence in the so-called Trump trade has investors once again contemplating a fresh milestone for the Dow Jones Industrial Average.
This time the most well known and oldest U.S. equity benchmark is set to hit 23,000 for the first time ever, notching its fourth straight 1,000 point climb over the past 12 months. That would be the largest number of such 1,000 point moves within a calendar year in the benchmark’s 120+-year history, according to WSJ Market Data Group.
The Dow DJIA, +0.16% remains less than 100 points away from the next milestone, and if it manages to clear it within the next 14 trading sessions, the blue-chip average would notch its third fastest climb to 1,000-point milestone since mid July (see table below).
To be sure, the higher the Dow rises, the smaller each 1,000-point move is in percentage terms, but the climb to all-time highs has captured public attention, even if some market strategists and bears are concerned that valuations have gotten too lofty, too fast.
Source: Market Watch