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Canadian stocks at record high, Dow tops 20,000

Last Updated Jan 25, 2017 at 7:07 am PDT

Summary

Dow hits milestone after coming close a couple of times

Second fastest 1,000-point trip in the Dow's history

NEW YORK, NY. (NEWS 1130) – It’s a historic day on the markets. This morning the Dow Jones Industrial Average climbed past 20,000 for the first time as stocks around the world extended a rally after corporate earnings reignited optimism in economic growth.

Meantime, the S&P/TSX Composite index set a record this morning as well, reaching 15,663.96 which surpasses the 15,657.63 set in 2014.

The Dow has been marching steadily higher since bottoming out in March 2009 in the aftermath of the financial crisis. The rally continued after the election of Donald Trump as US president last fall.

The Dow was up 102 points, or 0.56 percent, to 20,018. The Nasdaq rose 48 points, or 0.9 percent, to 5,600. The Standard & Poor’s 500 index rose 10 points, or 0.5 percent, to 2,290.

The index for American blue chips took the round-number milestone after coming close a few times over the past month. It was the second-fastest 1,000-point trip in its history.

European equities were swept up in trades favoring banks and cyclical companies. Meantime, the Mexican peso dropped after US President Donald Trump said he plans to unveil actions that include steps toward building a border wall.