Days after President Trump’s inauguration, the Dow hit a milestone.
Here is how USA Today reported the event:
The wait is finally over.
Dow 20,000 – a milestone that seemed out of reach and had a science-fiction feel to it at the 2009 market low when it traded at 6,547, 54% below its then-peak – is now a reality.
In a historic moment on Wall Street, the Dow Jones industrial average eclipsed the milestone Wednesday for the first time in its 120-year history. The Dow jumped 155.80 points, or 0.8% to close at a record high of 20,068.51, and touched 20,082, during the day. The rally was broad, with the Standard & Poor’s 500 and the Nasdaq composite also closing at all-time highs.
Leading up to the election, Americans were warned that a Trump presidency spelled doom and gloom. As you can see, the fearmongering turned out to be quite the opposite.
I can’t remember a more productive transition period for a presidency, than that of then President-elect Trump. From saving jobs at Carrier (with his magic wand), to positioning America’s economy for vast economic growth, Trump was masterful.
What Trump did with ease wasn’t even a fleeting thought for Barack Obama. Trump showcased just how little Obama knew about business, and managing the second biggest, and by far the most productive economy in the world.
New Dow High: The Dow achieved another record, hitting 20,500 today.
According to USA Today,
Stocks were mixed at the open Wednesday as investors pause after a six-day rally that sent the major indexes up to record highs.
The Dow Jones industrial average was up 10 points, or 0.1%, as it set a new all-time high but the S&P 500 and Nasdaq pulled back slightly.
The S&P 500 and Nasdaq will both rebound, and set records soon. Moreover, you can bet that we will see many of these records while Trump remains in office.
The groundwork laid by him during the transition cannot be measured.
Multi-national companies got the hints, and heeded them. What the world and America is about to witness is an economy on steroids. Here’s one CEO’s take on Trump so far.
“To have such a pro-business president is something that is a real asset for the country,” Plank said. “People can really grab that opportunity.”
He was responding to a question from CNBC anchor Scott Wapner about the CEO’s involvement in Trump’s Manufacturing Jobs Initiative.
America is riding the Trump Train. And it’s a high-speed bullet train for sure.