US stock markets are seeing historic record highs since President Trump took office with this past week ending on another record breaking high. The Dow Jones Industrial Average (DJI) soared 577 points hitting its highest closing record of 25, 075 for the first time, a record set on Friday January 5, 2018.
While the Dow Jones surpassed 25k for the first time, the Standard & Poor’s (S&P) 500 Index and the Nasdaq Composite both reached all-time highs.
The stock continues to hit record highs with President Trump’s pro-business policies and Tax Cuts. Credit: FOX Business
Investors are encouraged by the Trump Administration’s pro-business policies and the recent Tax Cuts reform. Markets continue to rally around the Trump agenda which they see as business-friendly.
President Trump continues to drastically cut back and reverse most of the Obama-era anti-business regulations that stifled growth, has passed landmark tax cut reform and promised to repeal and replace Obamacare.
Since the 2016 Presidential Elections, the Down has continued to sore, setting 89 new record closing highs. This is also due to investor confidence that a President Trump who is pro-business would pass more business-friendly legislation during his tenure including other job-boosting measures.
U.S. companies employed more workers in December than expected, with the economy adding about 190,000 worked in December ahead of Labour Day holiday.
2018 Highs
The Dow closed at 25,075.13 points on January 4 2018 and another record of 24.992.68 points the same day.
2017 Highs
The Dow Jones seen rising above 25K on the NYSE floor on January 4, 2018. Credit: Reuters/Lucas Jackson
The Dow reached four 1,000 points milestone in one year for the first time ever. On January 25, 2017, the Dow hit 20,000.77 points just moments after the New York Stock Exchange (NYSE) opened at 9:30 am EST. It closed at 20,068.51 points.
That was just 42 trading sessions after it closed above 19,000 points, the second fastest rise in American history. It took 24 sessions to go from 10,000 to 20,00 points in 1999.
The Dow closed above 21,000 on March 1st 2017 following a 12-day run since the record 13-day stretch in 1987. When the Dow breached 22,000 on August 2nd 2017, it was the first time it hit three such milestones in one year.
On October 18, 2017, the index closed above 23,000, breaking another record about a month later when it broke 24,000.
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