Tax reform and a surging economy saw 2017 end on a high note for President Donald Trump and 2018 came roaring in on Thursday when the Dow Jones industrial average broke 25,000 for the first time in its 120 year history.
The 30-stock index climbed 154 points, tying the fastest 1,000-point move in history, following the release of stronger-than-expected jobs data, CNBC reported — the Dow broke above 24,000 for the first time on Nov. 30.
President Donald Trump, fresh of the victory of seeing sweeping tax reform passed, was quick to mark the historic occasion on social media.
“Dow just crashes through 25,000. Congrats!” he tweeted. “Big cuts in unnecessary regulations continuing.”
https://twitter.com/realDonaldTrump/status/948944124132167680
“The Dow hitting 25,000 was a pretty wild idea even a year ago,” Steve Claussen, vice president of trader strategy at E-Trade, told the network.
“And while its symbolically important, the real story is never just a number,” he said. “It’s the underlying strength that is pushing markets this high.”
Trump forecast the Dow reaching 25,000 on Wednesday, a feat “few thought would be possible this soon into my administration,” he tweeted.
https://twitter.com/realDonaldTrump/status/948738634722742273
Chris Zaccarelli, chief investment officer of Independent Advisor Alliance, said that he expects the rise to continue, telling The Washington Post that he expects the Dow to climb as high as 30,000.
“I do believe we’ll see 30,000 before the bull market ends,” Zaccarelli said.
A social media user summed things up fairly well, tweeting: “With President Trump’s #MAGA agenda it won’t be the last time. Goodbye failing Obama-era!”
https://twitter.com/ChristiChat/status/948939097296556037
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
Tom@bizpacreview.com
The longest-tenured writer at BizPac Review, Tom grew up in Maryland before moving to Central Florida as a young teen. It is in the Sunshine State that he honed both his passion for politics and his writing skills.
- Did Sunny Hostin just admit on air to breaking the law by voting for her son? - November 8, 2022
- Stacey Abrams justifies trailing in the polls by suggesting black men are too stupid to back her - November 7, 2022
- Kevin McCarthy has message for Pelosi telling Dems to ‘change the subject’ away from inflation - October 24, 2022
Comment
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.
