Dow is getting the fastest move of 1,000 points in history with over 33,000 milestones – this is what he put in

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No one is likely to order any ball caps adorned with “Dow 33K,” but America’s famous stock index dropped another 1,000-mile milestone on Wednesday.

Dow Jones industrial average DJIA,
+ 0.58%
the day ended up 189.42 points, a gain of 0.6%, to close at a high of 33,015.37, just five trading days after clearing the 32,000 milestone. That marked the fastest ever journey through continuous 1,000-point milestones on a closing basis, according to Dow Jones Market Data.

As anyone with expert knowledge of arithmetic would point out, however, these milestones will not be as spectacular as the market is going to be higher. After all, a move from 32,000 to 33,000 marks an increase of just 3.125%. In comparison, the move from 9,000 to the 10,000 ad-worthy level back in the dot-com days in 1999 marked an increase of 11.1%.

The second fastest move between milestones was an eight-day trip from 25,000 to 26,000, an increase of 4%.

Okay, good lesson over. So what moved the blue gauge from 32,000 to 33,000?

There was an afternoon rally in Wednesday’s session following the eagerly awaited Federal Reserve policy statement and, in particular, Fed Chairman Jerome Powell’s press conference was read as a dovish strong thing, reaffirming the central bank’s message that he was committed to letting the economy run hot before he started to put the brakes on his ultra-easy monetary policy measures.

The Dow had been in tears ahead of the meeting, however, noting a seven-day winning streak and a four-day record run before losing some ground in Tuesday’s session, on build with the prospect of an increase in economic growth like the US. and much of the world is emerging from the COVID-19 pandemic. And those expectations were only met by the signing last week of President Joe Biden’s $ 1.9 trillion package of COVID relief spending, which comes on top of earlier rounds of stimulus fiscal.

The S&P 500 SPX,
+ 0.29%
the day ended up 0.3%, also setting a record with a close at 3,974.12. The tech-heavy Nasdaq Composite COMP,
+ 0.40%
eliminate early losses to finish 0.4% higher.

Among the individual drivers, Dow Jones Market Data said the aircraft maker is Boeing Co. BA is the largest donor of Dow’s 30 components,
+ 3.28%,
adding 120.08 points to the index during the run from 32,000 to 33,000. A full breakdown of the drivers and laggards is below:

Company

 Ticker

Boeing Co.

+120.08

Amgen Inc. AMGN,
+ 1.64%

+94.15

Home Depot Inc. HD,
-0.73%

+90.73

Caterpillar Inc. CAT,
+ 3.17%

+82.70

McDonald’s MCD Corp.,
+ 1.93%

+71.06

Nike Inc. NKE,
+ 0.12%

+47.57

Apple Inc. AAPL,
-0.65%

+31.45

Microsoft Corp MSFT,
-0.28%

+30.40

3M Co. MMM,
+ 0.78%

+24.94

Walgreens Boots Alliance Inc. WBA,
-1.11%

+23.55

Intel Corp. INTC,
+ 1.54%

+23.23

Goldman Sachs Group Inc. GS,
+ 0.95%

+19.28

UnitedHealth Inc. UNH,
-0.68%

+16.98

Cos Travelers. Inc. TRV,
+ 0.93%

+16.71

Merck & Co. Inc. MRK,
+ 0.64%

+16.71

Dow Inc. DOW,
+ 4.48%

+12.63

Johnson & Johnson JNJ,
-0.37%

+10.66

IBM Corp. International Business Tools,
+ 0.62%

+7.63

Salesforce.com Inc. CRM,
-0.63%

+7.63

Cisco Systems Inc. CSCO,
-0.50%

+7.43

Procter & Gamble Co. PG,
-0.40%

+7.11

Walt Disney Co. DIS,
+ 0.51%

+1.18

Honeywell International Inc. HON,
+ 0.58%

+0.79

Walmart Inc. WMT

+0.66

JPMorgan Chase & Co. JPM,
+ 1.03%

-0.26

Visa Inc. V,
-0.75%

-0.99

Coca-Cola Co. KO,
+ 0.04%

-1.32

Verizon Communications Inc. VZ,
+ 0.20%

-8.75

American Express Co. AXP,
+ 0.96%

-13.62

Corp Chevron CVX,
+ 0.36%

-21.98
Source: Dow Jones Market Data

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