Market Insider

DOW HITS 20,000 FOR THE FIRST TIME: Trump trade points to 21,000

Cramer: To get to the next level, we need Trump's tax breaks

Wall Street's bull should keep running even after its race to Dow 20,000 from its last thousand-point milestone, but it's much more likely to slow to a trot before it reaches 21,000.

The Dow crossed 19,000 on Nov. 22 and continued to gain, as the Trump trade swept the market higher. The best performing Dow stocks since then are Goldman Sachs, Disney and Boeing.

Gains in Caterpillar, Boeing, JPMorgan and Travelers helped push the Dow across the 20,000 marker on the opening Wednesday.

"Individual investors have started buying again, really since the election," said Jeff Kleintop, chief global investment strategist at Charles Schwab. "A psychological number like 20,000 helps to continue that trend, helps to bring in investors that have been sitting in cash and it really helps to keep the money flow coming in. We see this as a positive year, largely because of the individual investor, and not just corporations buying back stock any more."

Kleintop added that he sees modest gains for the market.