Dow hits 20,000 for the first time in its 120-year history
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Not so long after smashing 19,000, the Dow Jones Industrial average hit the "psychologically important" level of 20,000 in today's early trading.

Only five days into Donald Trump's presidency, the American stock market smashed through one of the most important thresholds as the market turned more bullish following Trump's first presidential orders. The Dow Jones Industrial average (INDEX: DIJA) broke above 20,000 for the first time in history, gaining 130 points. The S&P 500 (INDEX: US500) also grew more than 0.5% together with the Nasdaq Composite (NASDAQ: NDAQ) jumping 0.7% today, both reaching their record-highs, reported CNBC.

Most gains came from Boeing (LSE: BA), IBM (NYSE: IBM) and United Technologies (NYSE: UTX) that announced a series of quarterly results beating Wall Street's estimates. According to the analysts, Boeing and IBM account for the biggest part of the 130-point jump, with Boeing gaining 4% in today's trading. The best-ever performance of the Dow Jones comes as part of the post-election 12-week rally that was mostly inspired by Trump's "business-friendly" campaign promises such as imposing lower corporate taxes and softening industry regulations.

During the first few days in his role as the President, Donald Trump proved that he was serious about following his campaign promises. On Monday morning, he told a group of the leading American CEOs that he planned to significantly cut business taxes as well as decrease the government regulation of the business sector by 75%.

Trump promised top U.S. CEOs to cut regulations by 75% or even more

The next day, the President Trump signed executive orders to continue the construction of the Keystone XL and Dakota Access pipelines that were halted by the Obama administration in the last years because of environmental concerns. This helped the materials sector to advance by as much as 2.5% yesterday, which also contributed to the Dow's jump.

Ever since Trump's victory on November 8, all major indexes have made some significant gains. The S&P 500 advanced by 7%, Nasdaq Composite gained 8% whereas the Dow jumped 9%, reported MarketWatch.

Source: CNBC

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