Dow tops 25,000 on strong private hiring, global growth hopes

The Dow Jones Industrial Average broke above the 25,000 level for the first time on Thursday and other major indexes scaled new highs after strong US private jobs data added to upbeat sentiment following indications of robust growth globally.

The 30-member blue-chip index crossed five 1,000-point marks in 2017, driven partly by President Donald Trump’s pro-growth agenda and solid corporate earnings.

The momentum carried into 2018, with the benchmark S&P index closing above 2,700 for the first time on Wednesday and the Nasdaq settling above 7,000 a day earlier.

“Every 1,000-point increment in the Dow is becoming less of a percent move. It’s just another milestone,” said Michael Antonelli, managing director, institutional sales trading at Robert W Baird in Milwaukee.

“The point that people need to take is that the macro indicators are telling investors that world economies are doing really well.

World stocks also hit records, driven by strong manufacturing and services sector data in major economies.”