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Dow closes, hits 28K for the first time ever

Traders on the floor of the New York Stock Exchange (NYSE) on Nov. 15. Photo: Spencer Platt / Staff

The Dow Jones Industrial Average hit and closed above 28,000 for the first time ever on Friday, while the S&P 500 and Nasdaq Composite also closed at new records.

Why it matters: The 28,000 level has no relevance in and of itself, but the markets' new highs in recent weeks is a sign of investors' renewed confidence in the state of the U.S. economy.

  • The S&P 500 is on a six-week winning streak — the longest stretch of gains in two years, per CNBC — though the index's daily gains have been tepid.

Go deeper: The current bull market is actually below average

Go deeper

Rebecca Falconer
2 hours ago - Politics & Policy

Cuomo faces fresh misconduct allegations from former aides

New York Gov. Andrew Cuomo during a February press conference in New York City. Photo: Seth Wenig/Pool/AFP via Getty Images

The office of New York Gov. Andrew Cuomo (D) was on Saturday facing fresh accusations of misconduct against his staff, including further allegations of inappropriate behavior against two more women. His office denies the claims.

Driving the news: The Washington Post reported Cuomo allegedly embraced an aide when he led the U.S. Department of Housing and Urban Development and that two male staffers who worked for him in the governor's office accused him of routinely berating them "with explicit language."

Go deeper (1 min. read)Arrow
Rebecca Falconer
4 hours ago - Axios Twin Cities

In photos: Protesters rally for George Floyd ahead of Derek Chauvin's trial

Chaz Neal, a Redwing community activist, outside the Minnesota Governor's residence during a protest in support of George Floyd in St.Paul, Minnesota, on March 6. Photo: Kerem Yucel/AFP via Getty Images

Dozens of protesters were rallying outside the Minnesota governor's mansion in St Paul Saturday, urging justice for George Floyd ahead of former Minneapolis police officer Derek Chauvin's trial over the 46-year-old's death.

The big picture: Chauvin faces charges for second-degree murder and manslaughter over Floyd's death last May, which ignited massive nationwide and global protests against racism and for police reform. His trial is due to start this Monday, with jury selection procedures.

Go deeper (<1 min. read)Arrow
Axios
Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Brendan Lynch/Axios

  1. Vaccines: The barriers to vaccine passports — U.S. ahead of pace on vaccine.
  2. Health: Why we need to know COVID's origins— CDC: Easing mask mandates led to higher COVID cases and deaths — A worrying decline in COVID testing.
  3. Economy: U.S. economy added 379,000 jobs in February.
  4. Politics: Senate passes $1.9 trillion COVID relief package.
  5. World: Coronavirus variants driving another surge across Europe.
  6. States: California theme parks, sports stadiums can begin reopening April 1 — West Virginia lifts COVID capacity limits on restaurants, many businesses — Oregon governor orders all public schools to reopen by mid-April.
Go deeper (1 min. read)Arrow