Dow Nears 29,000 For First Time, S&P 500, Nasdaq Hit Records As Iran Tensions Ease

By Staff Reporter
Posted on 01/09/20 | News Source: FOX Business

All three of the major averages were trading in record territory

The S&P 500 and the Nasdaq Composite hit fresh records on Thursday, while the Dow Jones Industrial Average, also at a record, neared the key psychological 29,000 level as investors moved past the recent escalation of tensions in the Middle East.

President Trump celebrated the stock market's strength in a tweet.

STOCK MARKET AT ALL-TIME HIGH! HOW ARE YOUR 401K’S DOING? 70%, 80%, 90% up? Only 50% up! What are you doing wrong?

— Donald J. Trump (@realDonaldTrump) January 9, 2020

Trump de-escalated tensions with a White House speech late Wednesday morning and on Thursday U.S. officials said they believe Iran accidentally shot down a Ukraine International Airlines flight, a Boeing 737 jet. Initially, reports indicated the aircraft may have suffered a fatal mechanical error.

Boeing shares jumped on the news, the stock along with Apple and Goldman Sachs contributed to about half of the Dow's 211+ point gain. Read more at FOX Business