Wondering how this surge in the stock market affects your plans? So do we. Wouldn’t it be nice to have a nice run circa the 90’s? We’re not counting on it. Let’s say we’re being cautiously pessimistic. – Staff
That was fast! The Dow Jones Industrial Average on Wednesday traded above 21,000 on Wednesday, putting it on pace to touch a psychologically significant level and tying the fastest pace to such a milestone.
The blue-chip gauge closed at 20,000 just a few weeks ago, marking a then-second-fastest push (42 days) to a 1,000-point milestone. If the benchmark closes at 21,000 today, it would tie the fastest-ever surge to such a milestone at 24 days, equaling the same span of trading sessions between 10,000 and 11,000 in May 1999.
Equity benchmarks appear to be shaking off the prospect of an interest-rate hike as early as mid-March to touch another key level, on the heels of reignited optimism about the health of the U.S. and global economy and the belief that Trump can bring into reality, campaign promises that include boosting fiscal spending and cutting taxes.
Details around those reforms are still scant but investors appeared to be heartened by the tone Trump established during his address in front of joint session of Congress in a State of Union-style speech late Tuesday.