Dow Roars Past 25,000 as 2-Year Rally Rolls On

The Dow Jones industrial average on Thursday broke past 25,000 points for the first time, setting a record for the 132-year-old index as economic growth prospects continued to power rises for major stock markets.

Shortly after opening, the Dow climbed to 25,021, maintaining an ascent that began in early 2016. Other major indexes have also reached all-time highs in recent days, including the Standard & Poor’s 500-stock index and the Nasdaq composite.

Underpinning much of the growth is a belief that corporate America will enjoy economic tailwinds in 2018, including benefits from the recently passed Republican tax overhaul. In the December round of economic projections, the median forecast of Federal Reserve officials was that the United States economy would grow 2.5 percent this year, up from a previous estimate of 2.1 percent.

Content originally published on https://www.nytimes.com/2018/01/04/business/dealbook/dow-25000.html by MICHAEL J. de la MERCED