The Dow Jones Industrial Average crossed the 20,000 mark for the first time on Wednesday, gaining 162 points at 11:04 a.m. ET to reach a new all-time high of 20,075. The New York Times notes that since bottoming out in March 2009, the Dow has been on a steady climb, then received an accelerated boost once Donald Trump won the presidential election.
"In an of itself, it is just a number," says Prudential Financial market strategist Quincy Krosby. "But what it does is it lifts market expectations, in essence, to continue moving higher." Meanwhile USA Today warns, "Based on past performance, and with stocks currently pricey based on historical norms, now might not be the best time to jump into the stock market super-aggressively."