The Dow Jones Industrial Average, Wall Street's blue-chip stock market, has smashed through the 20,000 points barrier for the first time.

The milestone was achieved at the start of Wednesday trading - just after the opening bell sounded - and the positive sentiment remained through to the close.

Such a move had been on the cards for some time, given the rally in US stocks since the election of Donald Trump as US President in November - with investors cheering his plans for a major infrastructure investment programme and other business-friendly policies.

The rally in stock values faltered in the weeks before the tycoon's inauguration - coming within one point of 20,000 on 6 January.

Image: How the US market has performed since Trump's election win

Market participants credited Mr Trump's announcements on Tuesday, to advance two major pipeline projects blocked by former president Barack Obama, for the surge in the Dow's performance on Wednesday.


It was 0.7% higher within the first hour of trading at 20,051, with analysts saying the continued climb in value was down to investment through "FOMO" or the "fear of missing out."

The President himself, in typical fashion, delivered his reaction on Twitter, writing: "Great #Dow20k"

It closed at 20,068.

Boeing was among those benefiting after posting quarterly results above market expectations.

Goldman Sachs has gained the most, in market value terms, since Mr Trump's election win on 8 November - with its stock over 30% up.

European stock markets were firmly in positive territory before the Dow's achievement was reached at the opening, but gains were extended in Germany, France, Italy and Spain. The DAX in Frankfurt closed 1.8% up.

The FTSE 100 struggled to keep up, with gains of just 0.2% by the close, as a weaker dollar versus the pound made UK stocks slightly less attractive.

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London's top flight index hit a series of record winning streaks itself this month as many of its dollar-earning constituents have benefited from sterling's collapse in value since the Brexit vote.

The pound was trading at $1.2631 by late Wednesday evening - up a whole cent and at levels not seen for six weeks.

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Neil Wilson, senior markets analyst at ETX Capital, said the push above 20,000 for the Dow "really confirms that the 'great rotation' from bonds to stocks is definitely upon us.

"Fears about protectionism are running second to optimism about inflation and growth - for now at least.

"Donald Trump's election victory, far from roiling markets, has been greeted with universal optimism about what it means for global growth.

"Something like $3tn has been pulled from bonds and $3tn pumped into equities.

"President Trump is bound to take credit for the rally, and he may well be justified to some degree."