Market Insider

Traders see Dow taking another pass at 20,000

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Santoli: More interested in S&P 500 getting to 2,270

Dow 20,000 could be back in play Thursday as traders watch economic releases on service sector activity and jobs-related data.

The Dow edged closer to the big milestone Wednesday, rising 60 points to 19,942. The S&P 500 was up 12 at 2,270.

"A lot of the fixation is clearly on Dow 20,000, and how that reacts, but the idea is that with those numbers, you get roundaphobia. … I just think there's some natural hesitation around this round number," said Julian Emanuel, equity and derivative strategist at UBS.

Emanuel said a danger for investors is that the market has rallied on perceived positives of the incoming Trump administration's programs, without consideration of any of the uncertainties ahead, such as trade policy.

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