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Dow Can't Hold On to Record 29K

Index closes below the milestone number
By Newser Editors and Wire Services
Posted Jan 10, 2020 3:05 PM CST
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Specialist Gagliano, right, works with traders at his post on the floor of the New York Stock Exchange, Friday, Jan. 10, 2020.   (AP Photo/Richard Drew)

(Newser) – The Dow eclipsed 29,000 for the first time Friday, but it could not hold on to the record high. The index ended up falling 133 points to close at 28,823. The S&P 500 fell 9 points to 3,265, and the Nasdaq fell 24 points to 9,178. The brief Dow record followed the release of December's jobs report, which came in softer than expected but still pointed to solid footing heading into the new year. “I don't think today's report was a big needle mover for the market or for Fed policy,” Liz Ann Sonders, chief investment strategist at Charles Schwab tells the AP. “The economic environment looks fine in 2020, but the risk is that sentiment may have gotten overly complacent, and we need earnings to step up.”

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