NEW YORK, Dec. 13 (UPI) — The primary blue-chip stock index in the United States moved within easy striking distance of the 20,000 mark on Monday — putting more muscle behind analysts’ predictions that it could reach the level before year’s end.
U.S. stocks were largely flat Monday, but the Dow Jones Industrial Average managed to climb another 40 points to finish at 19,796.43 — another all-time record and just 204 points off 20,000.
For more than a month, U.S. stocks have been riding a wave of post-election euphoria rooted in President-elect Donald Trump‘s robust economic potential.
The Dow has climbed 1,463 points since Nov. 8, when the index plummeted more than 800 points amid the uncertainty of that election night. In all of the days since, it has posted modest and substantial gains, combined with only one or two slight losses.
The S&P 500 and Nasdaq posted modest losses Monday. The S&P lost nearly three points to finish at 2,256.96 and the Nasdaq dropped 32 points to 5,412.54.
Despite the Dow nearing the 20,000 mark, analysts believe the post-election rally has started to level off — because the near 1,500-point gain since Trump’s election hasn’t followed any actual change. The GOP businessman won’t be able to start doing that until he takes office in five weeks.
Nonetheless, most believe there is a good chance the 20,000 mark will come before Jan. 1.
