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Market Snapshot: Dow industrials poised to flirt again with ‘magical’ 20,000 level

The Dow average was set to open within striking distance of the psychologically important milestone of 20,000 on Wednesday, as the “Santa rally” that has pushed U.S. stocks to record highs continued at full steam.

Futures for the Dow Jones Industrial Average YMH7, +0.03% gained 17 points, or 0.1%, to 19,916, putting the benchmark on track to open near the 20,000 handle. On Tuesday, it closed at a record-high of 19,974.62, thanks in part to gains for Goldman Sachs Group Inc. GS, +1.68% and Exxon Mobil Corp. XOM, +0.01% .

“The 20,000 Dow level has been seen as a somewhat magical target for a long time, and the prospect of the Dow reaching and closing over this level will provide headlines,” said Rebecca O’Keeffe, head of investment at Interactive Investor, in a note.

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