The Dow Jones Industrial Average continues it's historic climb, reaching 26,000 for the first time ever early Tuesday (January 16) morning. The Dow jumped 221 points in the opening few minutes to reach 26,025. The early gains were the result of gains in the European and Asian markets. The U.S. dollar also rallied back from a three-year low on Monday.
The rally was lead by UnitedHealth and Citigroup. UnitedHealth surpassed expectations with higher earnings and sales, boosting the stock by 2.1%. Citigroup's adjusted earnings exceed analysts estimates pushing the company's stock up 1.6%.
According to the Wall Street Journal experts believe the market will continue to rise as fourth quarter earnings will "exceed analyst expectations." CNBC reports that "69 percent [of S&P 500 companies who have submitted earning reports] have surpassed earnings-per-share estimates while 85 percent have beaten expectations on the top line"
The S&P 500 jumped 0.71%,to 2,805.93 while the Nasdaq was up 0.90% hitting 7,326.17. Both are record highs, and it is the first time that the S&P 500 has traded over 2,800.