>> Just three days into the new year and the Dow Jones Industrials are already breaking out to fresh milestones. The closely watched stock market gauge Thursday topped the impressive round number of 25,000 for the first time in history. I'm Conway Gittens in New York. This Wall Street rally is part of a global love affair with stocks.
We're seeing stock markets from Frankfurt to Tokyo and, of course, here in the US, all move solidly higher. Now it seems like the world's economies are linked in a coordinated period of economic growth. And we haven't seen that since before the 2007, 2009 financial crisis and so that's causing more money to flow into global stocks.
The theme of global economic growth really benefitting companies within the DOW that cater to the world. One example, Boeing, it seems to be getting plane orders from everywhere, and the stock has been rewarded. Shares have surged 88% over the past 12 months, though slightly down, Thursday. Caterpillar is another leader.
That stock rallied 70% in the past year. These two have something else in common. They sell to U.S. corporations. And with the business tax rate now slashed to 21% in the U.S., investors are betting manufacturers like these will get a bump in new orders for equipment. But with every milestone comes new worries.
The stock market's nine year rally is smashing through records like an express train as of late, leading some to fret the US market is zooming towards a major speed bump.