Dow flirts with 26,000 before sinking

The Dow was at it again Tuesday, briefly soaring past the 26,000-point mark for the first time — but investors could’ve used seat belts for this rollercoaster ride of a day.

The ride may not be over, either, as analysts suggested the Dow Jones Industrial Average stock index could see more gains in the months ahead as investors and traders fixate on the distant goal of topping 30,000 points. They may have the wind at their backs as tax reforms mean U.S. businesses and many taxpayers are poised to keep more of their money in 2018.

Before shedding all of the day’s gains, the Dow briefly reached an all-time high of 26,086.12 on Tuesday. It was the index’s second 1,000-point milestone this year, and it came in record time — just seven trading days after the bellwether stock market gauge first crossed the 25,000-point mark.

“The Dow’s performance in the first two weeks of 2018 has been nothing short of breathtaking,” said Jesse Cohen, senior editor at Investing.com. “The gains have been made thanks to

optimism over the Republican tax cut and hopes it will boost corporate profits and provide a fresh

spark to the economy. I see more gains ahead, with the Dow hitting 30,000 only a few months away.”

The pace at which the Dow made it to 26,000 looks even more impressive when considering that the Dow’s previous

record for a 1,000-point gain was 23 trading days between Nov. 30, 2017 and Jan. 4, 2018.

As trading progressed Tuesday, investors engaged in some profit taking, and the Dow slipped back below 26,000 to close at 25,792.86. However, even though the index ended the day in the red, Tuesday’s milestone stood out as part of a white-hot winning streak during the 14 months since the election of President Donald Trump.