Copyright Bryan Thomas, Getty Images
Copyright Bryan Thomas, Getty Images
Copyright Bryan Thomas, Getty Images
Copyright Bryan Thomas, Getty Images
Copyright Bryan Thomas, Getty Images

Dow Tops 18,000 for 1st Time

Dec. 23, 2014
Tuesday's fresh records came on the heels of an unexpectedly strong revision to U.S. growth for the third quarter. The Commerce Department sharply raised its annual growth estimate from 3.9% to 5%, the strongest level in 11 years. Fueling the gain was an upgrade in consumption spending to 3.2%.

Rising in the opening moments of trade following a strong report on U.S. economic growth, The Dow stock index topped 18,000 for the first time on Tuesday.

Fifteen minutes into trade, the Dow stood at 18,015.53, up 56.09 points (0.31%). 

The S&P 500 gained 5.76 (0.28%) to 2,084.30, while the tech-rich Nasdaq Composite Index added 3.83 (0.08%) at 4,785.25.

Tuesday's fresh records came on the heels of an unexpectedly strong revision to U.S. growth for the third quarter.

The Commerce Department sharply raised its annual growth estimate from 3.9% to 5%, the strongest level in 11 years. Fueling the gain was an upgrade in consumption spending to 3.2%.

Analysts had projected growth of 4.3%.

However, the good cheer was offset somewhat by a disappointing report on U.S. durable goods orders, which fell 0.7% in November. The figures are a concern because durable goods are an indicator of business investment.

"There was good news and bad news," said BMO Capital Markets analyst Jennifer Lee.

Copyright Agence France-Presse, 2014

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!