The Dow Jones closed above 23,000 for the first time on Wall Street last night, driven by a jump in IBM after it hinted at a return to revenue growth. 

The Dow hit 22,000 on August 2, only 54 trading days earlier and roughly half the time it took the index to move from 21,000 to 22,000. 

This marks the fourth time this year the Dow has reached a 1,000-point milestone. 

The index is up 3.4% so far in October and is on track for a seventh consecutive month of gains. 

Shares of International Business Machines, which beat expectations on revenue, jumped 8.9% and accounted for about 90 points of the day's 160 point-gain in the blue-chip index. 

Solid earnings, stronger economic growth and hopes that President Donald Trump may be able to make progress on tax cuts have helped the market rally this year. 

The S&P 500 and Nasdaq also hit record closing highs last night.

The Dow had briefly surpassed the all-time peak on Tuesday but closed just shy of it. 

Meanwhile, investors await news on Trump's decision on the Federal Reserve chair position. The White House said last night that Trump will announce his decision in the "coming days."