Dow Crosses Over 20,000

US markets all ended at record highs on Wednesday, with the Dow Jones Industrial Average pushing through the 20,000 milestone as positive corporate earnings and efforts by the new US administration to advance infrastructure spending rekindled the rally that drove stocks after the November election of Donald Trump.

Boeing (BA) rose 4.2% in the Dow’s best gain after the aircraft maker beat fourth quarter earnings estimates. The financial sector led increases on the Standard & Poor’s 500, finishing 1.7% higher.

The industrials group rose 1% and materials added 0.7% as the sectors capitalized on Trump’s recent executive orders aimed at increasing infrastructure spending by resuming construction on the Dakota Access and Keystone XL pipelines.

Additionally, Trump said on Wednesday that he would proceed with plans to build a border wall between the U.S.’s southern border and Mexico. As a result, shares of engineering firms gained, with KBR (KBR) rising 3.3%, Fluor (FLR) up 3.8% and Aecom (ACM) rallied 4.6%.

Leave a Comment