The daily business briefing: March 2, 2017

The Dow hits 21,000, Snap shares debut after better-than-expected IPO, and more

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(Image credit: ROBYN BECK/AFP/Getty Images)

1. Dow hits 21,000 for first time

The Dow Jones Industrial Average soared above 21,000 for the first time Wednesday in a surge of optimism about the economy. Some analysts credited the conciliatory tone of President Trump's first speech to a joint session of Congress, while others said investors were mostly cheered by the confidence of leading Federal Reserve policy makers, who said that improving data on jobs and inflation show that another interest rate hike might be needed soon to keep the economy from overheating. All three of the main U.S. stock indexes hit the latest in a series of record highs, with the Dow completing its fastest 1,000-point gain ever. U.S. stock futures were mixed early Thursday.

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