Dow Jones hits 20,000 for first time ever

Dow Jones hits 20,000 for first time ever
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The Dow Jones Industrial Average opened above 20,000 points Wednesday, passing the milestone number for the first time in its 120-year history.
 
U.S. stocks consistently rallied after Nov. 9, the day after the election, with traders anticipating massive deregulation under Donald TrumpDonald John TrumpUtah Lieutenant Gov. Cox leads Huntsman in close governor's race Trump tweets 'we all miss' Ailes after swiping at Fox Former NFL player Burgess Owens wins Utah GOP primary MORE's presidency. But the Dow stalled out just below 20,000 for for more than a month before finally breaking through.
 
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Stocks in financial services and energy companies have boasted the biggest gains, reflecting likely rollbacks of Obama administration banking and environmental protection laws.
 
The Dow, an index that measures American corporate stock performance, strung together a series of record highs in the five weeks after Trump’s shocking election.
 
Stocks initially plummeted the night of the election as Trump’s win became evident. Overnight trading was halted on several exchanges as the Dow sank more than 800 points. 
 
Traders had long expected Hillary ClintonHillary Diane Rodham ClintonTrump tweets 'we all miss' Ailes after swiping at Fox Hickenlooper beats back progressive challenge in Colorado primary Jill Biden: 'A lot of Republicans' told me on campaign trail they're 'going to vote for Joe' MORE to win the presidential election, and Trump’s unpredictability and lack of concrete policy proposals created market uncertainty, which depresses stock performance.
 
But that turned around on the day after the election, and the market has now hit a high under Trump.