Dow reaches 50,000. There have been 4 closes above the 50K level
The DJIA has once again reached the key 50,000 milestone. The index first traded and closed above the 50,000 level on February 6, then managed to hold above that psychological benchmark for four consecutive trading days through February 11 before momentum turned sharply lower.
The subsequent correction saw the Dow fall nearly -10%, bottoming on March 27 with a closing low of 45,166.64. That decline unfolded over just 32 trading days and reflected a meaningful reset in sentiment after the earlier surge to record highs.
Since that low, however, the recovery has been equally impressive. Over the last 27 trading days, the index has nearly fully retraced the entire decline, with the recent high close reaching 50,188.14. That rebound underscores how resilient equity markets have remained despite earlier volatility.
Today, the Dow briefly pushed back above the 50,000 mark before rotating modestly lower. The index is currently trading near 49,971, still higher by roughly 673 points, or 1.37%, on the day.
Broader market strength remains evident as well. The NASDAQ Composite is higher by 1.88%, while the S&P 500 is up 1.40%, with both indexes on pace for yet another record closing level.
Yields are lower with the two-year down 17.3 basis point at 3.865%. The 10 year yield is down 6 point basis points at 4.347%.
Crude oil prices are another tailwind for the stops. The current price is trading at $95.20 down $7.07 on the day.
This article was written by Greg Michalowski at investinglive.com.