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."
Sign up for Today's Best Articles in your inbox
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.
-
The mental health crisis affecting vets
Under The Radar Death of Hampshire vet highlights mental health issues plaguing the industry
By Chas Newkey-Burden, The Week UK Published
-
The Onion is having a very ironic laugh with Infowars
The Explainer The satirical newspaper is purchasing the controversial website out of bankruptcy
By Justin Klawans, The Week US Published
-
'Rahmbo, back from Japan, will be looking for a job? Really?'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published