Dow Jones hits 30,000 for the 1st time in history


The Dow Jones Industrial Average just hit a key milestone for the first time in history.
On Tuesday, the Dow Jones climbed more than 400 points, taking it above 30,000 for the first time ever, CNBC reports.
The Dow has been climbing throughout the month amid a string of promising news on COVID-19 vaccine candidates, as well as after President-elect Joe Biden's election victory. On Monday, Biden's transition was able to formally begin, which helped to ease "investors' concerns about a drawn-out period of uncertainty," The Wall Street Journal reports.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
This historic milestone for the Dow comes after the stock market plunged earlier this year as the COVID-19 pandemic hit the United States and lockdown measures were imposed throughout the country. But this month alone, the Dow is up 13 percent and is "on track for its biggest monthly gain since 1987," according to CNBC.
Oanda analyst Craig Erlam told the Journal, "The idea that we're hitting Dow 30,000 in a pandemic year, the same year where it almost hit 18,000, is utterly outrageous."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Book reviews: 'Clint: The Man and the Movies' and 'What Is Wrong With Men: Patriarchy, the Crisis of Masculinity, and How (Of Course) Michael Douglas Films Explain Everything'
Feature A deep dive on Clint Eastwood and how Michael Douglas' roles reflect a shift in masculinity
-
Recreation or addiction? Military base slot machines rake in millions.
Under the Radar There are several thousand slot machines on military bases
-
How is AI reshaping the economy?
Today's Big Question Big Tech is now 'propping up the US economy'
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement