Posted on 01/16/2018 6:39:36 AM PST by Red Badger
DJIA crosses 26,000 for the first time Dollar rebounds after three-year low Bitcoin selloff accelerates
The Dow Jones Industrial Average crossed 26000 for the first time Tuesday, with U.S. stocks echoing broad-based gains in Europe and Asia-Pacific as they continued their speedy leap higher.
The Dow Jones Industrial Average climbed 221 points, or 0.9%, to 26025 shortly after the opening bell. The S&P 500 added 0.5%, and the Nasdaq Composite rose 0.7%. Meanwhile, the dollar rebounded from Monday’s three-year low.
Tuesday’s historic rise builds on the Dow’s 25% gain last year and its seemingly unstoppable climb to start 2018. The rally began in late 2016 as a bet on infrastructure spending, deregulation and tax cuts, but spent 2017 rising on the back of strong corporate earnings growth. The start of fourth-quarter reporting season, which many money managers expect will again exceed analyst expectations, has the potential to catapult the stock market even higher, some fund managers say.
A selloff in bitcoin accelerated in early European trading, with the cryptocurrency last 10.8% lower at $12,126.01, according to CoinDesk. Bitcoin was priced at $14,000 in early Asian trading and Tuesday’s drop came after China and South Korea moved in recent days to place restrictions on cryptocurrency trading.
The Stoxx Europe 600 added 0.3% in European afternoon trading, with the index’s industrial goods sector up 0.3% and its insurance sector up 0.7%.
The euro was down 0.3% against the dollar, which hit a new three-year low Monday.
That came despite the passage of a reform package through Greece’s parliament that moved Athens closer to an exit from its bailout program.
A stronger euro is seen as negative for Europe’s big exporters.
(Excerpt) Read more at wsj.com ...
My 401K is already up 3% this year and we are only 1/2 month old. Amazing!!! I love the Trump bump!!!
Moments ago the DJIA stood at 26066.
That is 45.7% higher than the opening mark on 11/07/16.
The DJIA is less than 800 points from a 50% gain from that date.
Are we winning yet?
Democrats on suicide watch, yet?..............
Since the Democrats are complaining about the Tax Bill being a tax cut for the rich, may I suggest they send all their profits from the increased stock market to the Federal Government.
Yeah. Just hope my broker is sharp enough to see the trend before it gets out of hand.
To quote James Carville on one of the few things he is 100% right on, It’s the economy stupid.
It will be lights out for the Dems in the mid terms especially given they have NO message, only that Trump is evil and we hate him.
Compound interest. Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn’t ... pays it. Compound interest is the most powerful force in the universe.....Albert Einstein
14 months and counting...
“What goes up
Must come down......”
Maybe, but right now we are going with “what went down, with good management will come up.”
Have the courage to stay in for the long haul
That was fast. Seems like we just hit 25000.
We did, just a couple of weeks ago, right after New Year’s..................
Trumps re-election campaign in 2020
Keep America from being a $h$%#hole again!!
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.