January 25, 2017
It’s looking like Trump is going to do everything he said he was going to do.
Can you imagine?
After a brief hiatus, the Dow Jones Industrial Average resumed its march toward 20000, crossing the elusive milestone on Wednesday as President Donald Trump demonstrates his seriousness about fulfilling campaign promises of lower taxes, less regulation, and more fiscal spending.
The blue-chip index’s march to the psychologically-significant level has captivated Wall Street since Trump’s surprise election in November, and comes just 64 days after crossing the 19000 threshold for the first time ever. The Dow flirted with the milestone for weeks, and came within a fraction of a point of 20K on January 6, stalling as investors awaited more concrete evidence the president would follow through on the issues he championed on the campaign trail.
At 20000, the index is up 1,668 points since Election Day.
Strength in the materials and financials sectors helped push the Dow across the line after Trump on Tuesday gave the green light for the construction of the Keystone XL and Dakota Access Pipelines – two projects that stalled under President Barack Obama’s administration. In recent days, Trump has also met with U.S. business leaders, including the chief executives of the Big Three American automakers amid a push for more domestically-built automobiles.