The wait for Dow 20000 is over.
While the discredited liberal mainstream media scramble daily to paint a false narrative that President Trump is having hardships, the business community loves Trump’s pro-business, pro-capitalism approach.
One of Donald Trump’s campaign promises was to boost the economy. It didn’t take long for that to happen, either; the stock markets began recovering as soon as he was elected. Now, just a few days into his presidency, Wall Street has reached historic heights.
Wall Street began climbing the day after the election. But today, something happened that has never happened before: the Dow hit 20,000 for the first time. A 100-point gain propelled the historic rise, with Boeing and Caterpillar seeing huge increases.
In addition, the S&P 500 advanced 0.4 percent for an all-time high, while the Nasdaq composite rose 0.7 percent, also for a record high. Altogether, the Dow is up 9% since Trump’s election, S&P 500 up 7%, and the Nasdaq up 8%.
“Traders have been waiting for more details on infrastructure spending and now they have it in a very clear format,” said Naeem Aslam, chief market analyst at Think Markets. “There is nothing bigger than this. A break of 20,000 for the Dow stimulates fresh capital which has been waiting for this moment to join this party.
— Fox News (@FoxNews) January 25, 2017
Economists believe that Trump’s executive orders have spurred the increases. “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. “A seminal moment. It is just a number but it is a big number, it is certainly a flashy number,” added Tim Ghriskey, chief investment officer of financial management firm Solaris Group. “There is a real belief that Trump is real, he has been extremely active these first couple of days of the presidency and a change may happen faster than people had thought.”
“It’s psychologically huge and, after a bit of pullback ahead of the inauguration, really confirms that the ‘great rotation’ from bonds to stocks is definitely upon us. Fears about protectionism are running second to optimism about inflation and growth – for now at least,” Neil Wilson, senior market analyst at London brokers Capital, said.
“Wednesday’s advance is quite staggering when you consider that Trump was deemed the less desirable victor,” said Oanda market analyst Craig Erlam. “The gains have been broadly attributed to the promise of fiscal stimulus, although I do wonder if markets have perhaps got a little carried away — and whether Trump can live up to expectations,” he cautioned. But “it’s only a matter of time until we’re trading above” 20,000.