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Sunday, September 20, 2020
HomeNewsEconomyDow Jones Breaches 19000 For First Time Ever as Trump Rally Continues

Dow Jones Breaches 19000 For First Time Ever as Trump Rally Continues

U.S. President-elect Donald Trump is seen speaking on a television on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Nov. 9, 2016. U.S. stocks fluctuated in volatile trading in the aftermath of Trump's surprise presidential election win, as speculation the Republican will pursue business-friendly policies offset some of the broader uncertainty surrounding his ascent. Photographer: Michael Nagle/Bloomberg
U.S. President-elect Donald Trump is seen speaking on a television on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Nov. 9, 2016. U.S. stocks fluctuated in volatile trading in the aftermath of Trump's surprise presidential election win, as speculation the Republican will pursue business-friendly policies offset some of the broader uncertainty surrounding his ascent. Photographer: Michael Nagle/Bloomberg

U.S. President-elect Donald Trump is seen speaking on a television on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Nov. 9, 2016. U.S. stocks fluctuated in volatile trading in the aftermath of Trump’s surprise presidential election win, as speculation the Republican will pursue business-friendly policies offset some of the broader uncertainty surrounding his ascent. Photographer: Michael Nagle/Bloomberg

The Dow Jones Industrial Average (INDEXDJX:.DJI) breached 19000 for the first time early Tuesday, just one day after the major indexes hit records.

Global stocks moved higher as a rise in commodity prices continued to sustain the post-election rally. U.S. stocks rallied and continue the bull surge following the U.S. presidential election, particularly among industrial, financial and health care companies.

Despite the same dire predictions the British heard before the Brexit vote, traders in U.S. markets ended on the best 5-day period since 2011 and new highs last week. Investors and traders have come to the realization that economically-friendly policy under a new Trump Administration outweighed the uncertainty after their preferred candidate Hillary Clinton was defeated.

“For the moment, investors appear to see the prospects of tax reform and fiscal stimulus as the most important result of Mr. Trump’s victory. Much is still unknown, however, and the initial reactions could evolve as the new administration’s policy proposals and appointments take shape,” said economists from Goldman Sachs in a note Friday. Goldman backed Mrs. Clinton heavily and failed to largely hedge against her defeat.

The Dow pulled back some to 18,990.79, which is still a gain of 34.10, or 0.18%, as of 10:50 A.M. EST.

The NASDAQ Composite (INDEXNASDAQ:.IXIC) also gained 8.68 points to 5,377.54, or 0.16%, while the S&P 500 (INDEXSP:.INX) gained 1.25 to 2,199.43, or 0.06%.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Latest comments

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    Is the famous Dow Jones world’s largest fata morgana? https://t.co/sfIEtYtCit

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    This economy will boom when Trump starts easing regs, getting lower corporate tax rates and personal tax rates down!

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    How on earth can any CEO back Hillary over Trump on corporate tax rates alone? Any CEO that backed Hillary should be fired

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