Posted on 03/01/2017 2:20:07 PM PST by Enlightened1
Investors reacted positively from President Donald Trump’s Tuesday night address to Congress, pushing the Dow Jones industrial average above 21,000 points Wednesday for the first time in its history. Banks, financial institutions, companies in the energy and materials sector saw huge gains as Trump reaffirmed during his speech his plans to cut taxes and push for other business-friendly policies. The Dow jumped 242 points, or 1.2 percent, to 21,055 as of 10:07 a.m. Eastern Time. The Standard & Poor’s 500 index gained 24 points, or 1 percent, to 2,387. The Nasdaq composite index added 59 points, or 1 percent, to 5,885. Small-company stocks continued to outpace the rest of the market, a bullish signal on the economy. The Russell 2000 index rose 24 points, or 1.7 percent, to 1,410.
“It’s nice to see the Dow put another thousand figure up so quickly,” said Paul Christopher, head global market strategist for Wells Fargo Investment Institute. “At the same time, it sort of suggests this is a sentiment-driven rally. There’s usually some recalibration of sentiment at some point.”
In his speech, Trump struck a less confrontational tone than usual and steered away from dramatically negative descriptions of the state of the U.S. economy. He also reaffirmed his pledges to reform taxes, slash red tape and ramp up spending on defense and infrastructure projects. The promises have helped send U.S. stock benchmarks to records.
Overseas markets also reacted positively. In Europe, Germany’s DAX was up 1.9 percent, while France’s CAC 40 was 2.2 percent higher. Britain’s FTSE 100 was up 1.6 percent. Earlier in Asia, Japan’s benchmark Nikkei 225 gained 1.4 percent, while Australia’s S&P/ASX 200 slipped 0.1 percent. Hong Kong’s Hang Seng added 0.2 percent. South Korea’s markets were closed for a holiday.
According to the AP, here are some highlights...
(Excerpt) Read more at breitbart.com ...
The Progressive spin: Dow hits 21,000. Women and children hurt worst.
Incredible. My retirement fund is doing better than ever.
And my daughter found a job today, after looking for quite a while.
“Zero Days Without A Win”
Go Trump!
3 Trillion has been added to the Stock Market since President Trump has been elected.
This was also the 13th out of the last 14 days that the DJI Stocks have closed with a new record high. On Monday the 12 day streak of new record closings ended. It tied the streak under Reagan in 1987. It then skipped a day, and today it went ballistic.
http://money.cnn.com/2017/02/27/investing/dow-record-streak-stocks/
On November 8th, 2016 the DJI closed at $18,332.74.
http://www.businessinsider.com/closing-bell-november-8-2016-2016-11
Today, March 1st, 2017 the DJI closed at $21,115.55.
That is an increase of 15.18% since Trump won the election.
On January 19th, 2017 the DJI closed at $19,804.72
https://www.zacks.com/stock/news/246090/stock-market-news-for-january-19-2017
Since the day before Trump was inaugurated, the DJI has gone up 6.62% in the first 40 days of Trump’s administration.
Glad for your daughter.
I’ve been able to do some dribs and drabs investing finally.
I’ve been telling her for a few months to be patient, that help was on the way.
She’s young enough that all she really knows is Obama’s “You didn’t build that!” negativity.
My retirement account is soaring as well.
Congrats to your daughter, my FRiend. I have noticed more “Fore Hire” signs around town.
Thanks! She was tickled to death to hear today.
re: The Progressive spin: Dow hits 21,000. Women and children hurt worst. he he
I’m very happy for you and her.
That’s 3 trillion $ used to invest in USA.
That money will trickle down and raise all boats!
Physics! Science!
Under Obama the markets moved to the Fed.
When rates went up, or threatened to, the market went down and vice-versa.
What’s astonishing here is that the Fed is clearly showing it will raise rates in March, yet the Trump Train is so powerful the market is going up IN SPITE of the Fed!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.