Jan. 25 (UPI) -- For the first time in history, the Dow Jones Industrial Average closed above the 20,000-mark on Wednesday -- a milestone that experts have expected for weeks, fueled by the post-election surge on Wall Street.
The blue chip index closed Wednesday's trading with a daily gain of 156 points, or 0.08 percent, to finish at 20,068.51.
The Dow surpassed the historic barrier after the 9:30 a.m. opening bell at the New York Stock Exchange and rose to a intraday high of 20,082.00 -- the loftiest point in the NYSE's 120-year history.
The index of 30 stocks was led by Boeing and IBM during trading Wednesday.
The Dow rose from 19,000 to 20,000 in just 64 calendar days -- the second-quickest 1,000-point jump, according to S&P Dow Jones Indices. In 1999, the index jumped from 10,000 to 11,000 in 35 days.
"It's a nice mile marker," Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners, told USA Today.
Analysts have been anticipating 20,000 for weeks, with some believing it would happen before the end of 2016. The index got within 50 points of the record mark on multiple occasions but could never crack the boundary until Wednesday.
The S&P 500 climbed 18 points Wednesday to close at 2,298.37, and the Nasdaq gained 55 points to 5,656.34.
The Dow's spectacular 1,700-point incline over the last 11 weeks has been steady since President Donald Trump's election on Nov. 8, a night of uncertainty that saw the index temporarily fall 800 points. Since then, Trump's business acumen and anticipated policy changes have fueled positive speculation on Wall Street that's driven the index to historic levels.
Amid the financial crisis in March 2009, two months after Barack Obama took office, the Dow was at 6,440.
"The economy has come a long way in eight years. Overall, it's a healthier economy and does justify a much higher stock market than eight years ago," David Kelly, chief global strategist at JPMorgan Funds, told CNN.
Traders have been bullish on Trump's economic plan to slash taxes, ease regulations and introduce a sweeping infrastructure package worth $1 trillion.
"Clearly, this has become a buy-high-sell-higher market with the Dow breaking above 20,000," Terry Sandven, chief equity strategist at U.S. Bank Wealth Management told CNBC. "Out of the gate, President Trump is moving along with his agenda."
"More importantly, earnings have been on the cusp of increasing, and that's going to be key to hold these valuations," he added.
On Tuesday, Trump signed executive orders to make it possible to complete the Dakota Access Pipeline in North Dakota and restart the process for the construction of the Keystone XL oil pipeline from Canada.
"There's no question that some of the executive orders he's signed are good, especially deregulations," said Peter Cardillo, chief market economist at First Standard Financial. "Anything else should be seen as a question mark. We don't know what a wall on the Mexican border would mean for NAFTA."
However, investors expect a potential dropoff from the record levels, Jeremy Klein, chief market strategist at FBN Securities, told CNBC.
"If funds continue to shovel capital into equities in advance of an inevitable reprise of an undesirable bout of skittishness, then shares may suffer a selloff greater in magnitude and duration than I anticipate," he said.