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Dow Rises 5,000 Points in a Year for the First Time Ever!

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Dow Rises 5,000 Points in a Year for the First Time Ever!

Nothing could disrupt Monday’s tax bill-driven trading, with the Dow Jones rocketing to its latest all-time high.

A resurgence in the so-called Trump trade helped propel the Dow Jones Industrial Average to a fresh closing milestone.

Driving the index higher is the prospect of Donald Trump securing his first major victory since taking office.

Climbing around 200 points after the bell rang on Wall Street, the Dow Jones is now trading just below 24850.

That means it needs just 150 points if it wants to end the year on a nice and rounded 25000. That would be a landmark level that would mark a more than 5000 point surge since the start of 2017.

This time the most well known and oldest U.S. equity benchmark closed above 23,000 for the first time ever. It would be its fourth straight 1,000-point climb over the past 12 months. That marks the largest number of such 1,000 point moves within a calendar year in the benchmark’s 120+-year history, according to WSJ Market Data Group.

The Dow, along with the S&P 500 and the Nasdaq composite, has had a banner year, rising 25.6 percent. The S&P 500 and Nasdaq are up 20.3 percent and 28.6 percent, respectively.

In the days following then-nominee Donald Trump’s election a year ago today, investors placed their bets on the stock market under a new Republican-led leadership team.

Within days of taking office, Trump signed two executive orders supporting the construction of two controversial oil pipelines. The Keystone XL and Dakota Access. Both were projects that Obama had refused to back, due mostly to environmental concerns.

It was just the beginning. In the almost full year that Trump has been president, he has continued to cut regulations and take other actions that your High School economics book will tell you will spur an economy.

Consumer and business confidence of course are at the forefront of the upward swing.

It looks to be a great year!

 

 

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