Riding High: Dow Jones Just Hit the 23000 Mark

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"It may take several days or a couple of weeks", he said.

The gains have been driven by stronger than expected earnings for many USA companies, as well as the hopes of those companies that President Trump's tax reform plan could lower taxes on them.

The Dow Jones Industrial Average .DJI briefly ticked above 23,000 on an intraday basis on Tuesday, putting it on track for its fourth-shortest gallop between thousand-point milestones in its more than 100-year history.

The S&P 500 increased nearly two points to finish at 2,561.

The Dow Jones is up 26 percent since Trump's election in November 2016.

If the Dow closes above 23,000, it would be the index's fourth thousand-point milestone so far this year. "And the global economy is accelerating", said David Joy, chief market strategist at Ameriprise Financial. The Nasdaq Composite Index was down 0.35 points or 0.01 per cent to 6,623.66.

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Johnson & Johnson (JNJ.N), up 3.4 percent, also posted better-than-expected results and raised its forecast, leading a 1.3 percent gain in the S&P healthcare sector.SPXHC.

Also boosting some health insurers and U.S. hospital operators was news of a bipartisan deal in the U.S. Senate to stabilize Obamacare.

Shares of the world's first big computing company jumped 7.65 percent, after the company reported quarterly revenue beat. The stock ended the regular session down 0.2 percent at $146.54.

Advancing issues outnumbered decliners on the NYSE by 1,434 to 1,358.

Investors are also awaiting the Fed's issue of the Beige Book, a periodic snapshot on the health of the US economy.

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