The Dow Jones Industrial Average was traded above 25,000 for the first time ever early on Thursday, breaking another record. The new height comes just five weeks after its first every close above 24,000. The index broke through five 1,000-point barriers in 2017. It was 25% for the year.
Enthusiasm for the GOP tax reform package is believed to be largely responsible for the growth. Company profits are widely expected to get boosted by the cuts. The rise has also been fueled by big gains made by blue chip stocks. Aircraft manufacturer Boeing’s stock has seen an 87% gain, while construction equipment maker Caterpillar and tech giant Apple have seen 70% and 49% rises respectively.