Trader Peter Tuchman wears his “Dow Almost 20,000” cap as he works on the floor of the New York Stock Exchange, Thursday, Dec. 15, 2016. Stocks are opening moderately higher on Wall Street and the dollar is making more gains against other currencies a day after the Federal Reserve raised its benchmark interest rate. (Photo: AP)
The Dow Jones Industrial Average (INDEXDJX:.DJI) came within a point of breaching 20,000 for the first time in history. The close call comes just a little more than one month after the major indexes hit new records in response to the election of Donald J. Trump as president.
As of 1:01PM EST the Dow pulled back slightly to 19,994.92, though still representing a gain of 95.63, or 0.48%.
On Nov. 22, 2015, the Dow breached 19,000 for the first time in history and, subsequently, it closed above the historical range for the first time ever. Despite the same dire predictions the British heard before the Brexit vote, traders in U.S. markets ended their best 5-day period since 2011 and on new highs the trading week after the election.
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.
Nicholas DeSenso / January 7, 2017
Stupid media and Democrat politicians fail to understand that by starting construction of the wall gives President Trump a timeline and the ability to apply massive pressure on Mexico to agree to terms for payment. America holds all the cards (foreign aide, illegal immigration, trade market, etc.). It’s called 4D chess, and Trump is a grand master.
/
Richard Baris / January 7, 2017
No doubt. I wonder what choice Trump is going to make: Break a major campaign promise or threaten to bankrupt their third-world economy? This isn’t hard. They’ll pay one way or the other.
/
Liberty Never Sleeps / January 7, 2017
“promises’ not ‘threatens’.. 😀
/
Duke McNeil / January 8, 2017
I didn’t know Col. Sanders’ son was a trader. ?
/
GENOVESE / January 8, 2017
I wish it would do it on Jan 20th.
/