International Finance

Dow Jones hits 23,000 for the first time in US history

The Dow Jones Industrial Average rose above 23,000 points for the first time on Tuesday, but finished the day slightly below the milestone.

The Dow Jones briefly topped 23,000 for the first time in its 121-year history on Tuesday.

This happened just two months after they hit the 22,000 milestone.

This year has been full of milestones for the Dow Jones industrial average. The blue-chip stock gauge has rallied more than 3,200 points, gained more than 16% and leapfrogged 20,000, 21,000, 22,000 and 23,000 in 2017.

It was boosted by gains for healthcare firm UnitedHealth and drugs maker Johnson & Johnson, after the companies raised their profit forecasts.

The strong rally has been driven, Wall Street pros say, by a financial rarity: Economies in every corner of the globe picking up at the same time.

The Dow Jones, which tracks 30 of the biggest US listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Trump will win backing for his tax cut plan.

The wider S&P 500 index edged up 1 point to 2,559, while the tech-rich Nasdaq index finished flat at 6,624.

Seven of the 11 major S&P indexes were lower, led by a 0.39 percent drop in industrials and material index .

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