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Offbeat Dow cracks the 30,000 mark

02:50  25 november  2020
02:50  25 november  2020 Source:   dw.com

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At 30 , 000 points the Dow could lure in small investors still on the sidelines who are now eager to share in the market exuberance. But market watchers say they are less impressed than they were with the 20, 000 mark reached in January 2017, and technically speaking it means little beyond making a

Dow crosses 30 , 000 for the first time in history. The Dow Jones industrial average surged past the 30 , 000 mark for the first time in history on Tuesday as Wall Street welcomed a key step toward a peaceful transfer of power in Washington.

The corona crisis initially sent the stock exchanges into a rapid decline. Now they are picking themselves up again to new heights - especially the courses on New York's Wall Street.

Symbol des Kapitalismus: © AFP / A. Weiss symbol of capitalism:

record mood on Wall Street: Investors reacted with relief to the relenting of US President Donald Trump in the dispute over the handover of office to his successor Joe Biden. Hopes for effective vaccines against the coronavirus also spurred the market.

For the first time the Dow Jones jumped the psychologically important mark of 30,000 points. In the course of trading on Tuesday, the best-known American stock index even rose over 30,100 points. At the final bell there was a plus of a good one and a half percent to 30,046 points.

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Dow tops 30 , 000 on vaccine progress, Biden transition. Investing.com - The Dow closed above 30 , 000 for the first time ever Tuesday as value stocks continued to ride the wave of positive vaccine news and easing uncertainty over the U.S. presidential transition.

U.S. stocks were on track to climb Tuesday, with the Dow set to make another approach to the 30 , 000 level, as positive news on progress toward a Biden administration and on a COVID-19 vaccine, in a holiday-shortened week, supported buying on Wall Street. However trading volumes are lower ahead

Bizarre Statement

The new record caused Trump to make an extremely unusual brief appearance in front of the press. With a few minutes' notice, he stepped in front of the cameras in the press room of the White House and described the Dow's 30,000 points as a "sacred number". The elected head of state also made it clear that he considers the latest developments on the New York Stock Exchange to be a merit of his government. It was already the 48th record in his tenure, he emphasized.

  Dow knackt die 30.000er-Marke © Kevin Dietsch / Pool via CNP / MediaPunch / picture alliance


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At the beginning of 2020, it initially looked as if the long-term "Bull Market" should come to an abrupt end. Because of the corona pandemic, many governments sent their countries into lockdown. The Dow fell nearly 10,800 points from late February to late March. The price gains accumulated over a good three years had thus vanished into thin air within a few weeks.

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The Dow has reached the key milestone at 30 , 000 . The high price just ticked up to 30000.50. The Dow fell below the 20, 000 in mid-March on the pandemic fear. Since then, the price has rebounded about 65% from the low. Mark this day, November 24,2020 as a key milestone day for the Dow .

The Dow breached 30 , 000 points for the first time on Tuesday as investors bet on a swift economic recovery next year following progress on coronavirus vaccines and the formal go-ahead for President-elect Joe Biden's transition to the White House. Economically-sensitive industrial stocks surged to a

The stock exchanges also collapsed worldwide. But governments and central banks quickly made it clear that they would do everything they could to counteract with huge economic and aid packages. The Dow has been able to work its way up over the past few months.

Über 30.000! So hoch wie am Dienstag stand der Dow Jones noch nie © Nicole Pereira / New York Stock Exchange / AP / dpa / picture alliance Over 30,000! The Dow Jones was never as high as it was on Tuesday.

Steep rise

In the long term, the US benchmark index only needed four years to go from 20,000 to 30,000 points. And it didn't take eight years for it to double: In May 2013, the 15,000 mark was on the price board on Wall Street for the first time. In the immediate vicinity, the bronze statue "Charging Bull" designed by the artist Arturo Di Modica symbolizes US capitalism.

wa / fw (dpa, rtr)

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