DOW ROARS ABOVE 21,000 TO NEW RECORD: Here's what you need to know

The Dow Jones Industrial Average blew through the 21,000 mark for the first time on Wednesday as stocks resumed their record-setting rally after a one day breather.

It took just 24 trading days (and 35 calendar days) for the index to reach this latest landmark interval from the prior one of 20,000, which it touched on January 25.

Notably, this ties for the fastest ascent between landmark intervals. The last time the Dow gained 1,000 points between psychologically important points was back in 1999: It hit 10,000 on March 29, 1999 and then jumped to 11,000 on May 3, 1999.

Moving back to the present, stocks climbed after the more measured tone in US President Donald Trump's speech reassured some investors. Bank stocks led the charge as chances of an interest rate hike this month increased.

In his first address to a joint session of Congress late Tuesday, Trump said he wanted to boost the US economy with a "massive" tax relief, make a $1 trillion effort on infrastructure, and overhaul Obamacare. However, his comments lacked in detail.

Trump "repeated many of his previous themes, but in a more measured, less combative tone than in previous speeches. However, he did not offer many new details on economic policy," Lewis Alexander, Chief US Economist at Nomura, wrote in a note. "

"Broadly speaking, President Trump did not materially resolve key uncertainties regarding the outlook for economic policy — such as the outlook for taxes and spending, infrastructure, trade, and exchange rate policy — in his speech [on Tuesday night]; we believe it will take many months before we have clear answers to all of these issues," he added.

Let's jump to the scoreboard:

1. Businesses are expecting inflation to rise in the coming months, Fed's Beige Book says.

2. Personal spending missed, but personal income beat.

3. Ray Dalio is stepping down from managing the world's biggest hedge fund firm amid a company-wide shake-up.

ADDITIONALLY:

Traders are sending a warning that the stock market rally is running out of steam.

For a guy who hates regulation, Trump sure is proposing some expensive ones.

McDonald's could kill the drive-thru as we know it.

ISIS just pledged to attack China — here's why.

How the company behind 2 of the year's biggest movies is blowing up the Hollywood playbook.

Here are the 13 US housing markets that would be most affected by rising interest rates.

Wells Fargo isn't giving cash bonuses to 8 senior executives to "promote accountability" after its accounts scandal.

DOW ROARS ABOVE 21,000 TO NEW RECORD: Here's what you need to know

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