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Wed, 17 Jan 2018 21:22:30 +0000
(NEW YORK) -- Another new record on Wall Street as the Dow closed above 26,000 for the first time in history.
The Dow Jones Industrial Average briefly surpassed the 26,000 milestone on Tuesday, but retreated later in the session. On Wednesday, the Dow closed the session at 26,115.65, up more than one percent.
The Nasdaq jumped more than one percent as well, finishing the day at 7,298.28, while the S&P 500 posted its own gain of 26.14 to a close of 2,802.56.
New tax legislation is helping to fuel corporate earnings. That, in turn, has propelled the stock market's rise. The Dow closed above 25,000 for the first time just eight sessions ago.
The price of crude oil increased Wednesday, by about a quarter of a percent. The cost of a barrel finished the day at $63.90.
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