File this under: Thanking the Federal Reserve.
At the time of this writing, the Dow Jones Industrial Average is up 178 points, reaching 28,313.17 on Monday. Earlier in the session, the Dow edged up to 28,332.74, meaning that the leading stock index has recorded a significant milestone.
Since President Donald Trump took office, the Dow has surged 10,000 points, or more than 54 percent. The benchmark S&P 500 has gained more than 46 percent in the same timespan.
From Fox News:
The gains show why U.S. markets have become the envy of the world under Trump, who has followed through on his promises of cutting taxes and regulations and rewriting global trade deals in America’s favor.
By comparison, global exchanges such as Hong Kong’s Hang Seng and Britain’s FTSE have gained 20.4 percent and 6.4 percent, respectively, since Trump’s election win, while China’s Shanghai Composite has lost 7.2 percent, according to Dow Jones Market Data. Of the major global averages, only Japan’s Nikkei, up 44.1 percent, has come close to the gains of the U.S. markets.
U.S. investors’ holdings have benefited from Trump’s pro-business agenda. He has lowered income tax rates for individuals, cut corporate taxes and rolled back a number of regulations, including restrictions on the country’s biggest banks.
Does this mean the Dow will top 30,000 in 2020? With historically low interest rates and a money-printing central bank and a bit more certainty in global financial markets, why not?
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