The Dow Jones passed 20,000 on Wednesday, hitting it's first record high in more than a month.

Don't get too excited: The Dow Jones Industrial Average may be famous, but it's usefulness as an economic indicator is limited. It's a simple average of just 30 large American companies, meaning that higher-priced stocks can skew the reading.

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S&P 500 hits a record high too: The S&P 500 is a better read of overall investor sentiment, and that index has performed well of late.

Why all the excitement? Traders are banking on help from Washington, particularly in the form of corporate tax breaks. But earnings have been strong this quarter too, after more than a year of stagnant profits.

Measures of the overall price of the stock market—like stock market capitalization relative to GDP—show that stocks are pricey today. Investors beware.

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Ohio Gov. Mike DeWine tests positive for coronavirus ahead of Trump visit

Photo: Justin Merriman/Getty Images

Ohio Gov. Mike DeWine has tested positive for COVID-19 and plans to quarantine at his home for the next 14 days, his office announced Thursday. He currently has no symptoms.

Why it matters: The 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol. He is the second governor known to have contracted the coronavirus, after Oklahoma Gov. Kevin Stitt (R).

This story is developing. Please check back for updates.

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NOAA warns of potential for "extremely active" Atlantic hurricane season

Hurricane Isaias makes landfall in Garden City, South Carolina. (Photo by Sean Rayford/Getty Images)

National Oceanic and Atmospheric Administration forecasters warned Thursday of the potential for an "extremely active" hurricane season in the Atlantic.

The big picture: The agency expects 19 to 25 named storms — with three to six major hurricanes — during the six-month hurricane season, which ends Nov. 30. The average season produces only 12 named storms.

New York AG files lawsuit to dissolve NRA

Wayne LaPierre. Photo: Saul Loeb/AFP via Getty Images

New York Attorney General Letitia James filed a lawsuit Thursday to dissolve the National Rifle Association, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

Why it matters: The NRA is the most powerful gun lobby in the country and receives a huge amount in donations each year, but New York's investigation claims that CEO Wayne LePierre and other top leaders undermined the organization's mission for their own personal benefit.