Dow closes above 19,000 for first time as Trump rally continues

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http://www.forbes.com/sites/laurengensler/2016/11/22/dow-jones-industrial-average-closes-above-19000-new-record/#656a982d1525

The Dow Jones Industrial Average climbed to new highs on Tuesday as the stock market continues to gain steam following the election of Donald Trump.

The blue-chip index added more than 65 points to close at 19,023 points, ending the day beyond the 19,000 level for the first time in history. Meanwhile the S&P 500 ticked up 0.2% and the Nasdaq added 0.3%.

Among the biggest gainers on Tuesday were Barnes & Noble and Dollar Tree, which climbed 11% and 8%, respectively, after reporting better-than-expected quarterly earnings. Dr. Pepper’s parent company was also higher after it said it would acquire flavored water maker Bai Brands for $1.7 billion.

The rally came one day after the major indexes all closed at record highs simultaneously, which hadn’t happened since 1999, during the height of the dotcom boom.

The stock market has enjoyed broad-based gains since Trump’s victory on November 9, driven by the anticipation of market-friendly policies. In the two weeks since Americans cast their ballots, the Dow has climbed 2.4%, while the S&P 500 has added 1.9% and the Nasdaq has gained 2.5%.

There’s been a particularly sharp run-up in the stock prices of banks, as investors eye relaxed regulations under Trump, with financial behemoths like Goldman Sachs seeing their stocks surge 10% since Election Day.

Industrial companies like Caterpillar have also gotten a welcome boost as investors bet that Trump will make good on his promise to spend heavily on the nation’s aging infrastructure. Defense spending is also expected to rise under the Republican president and has boosted the share prices of companies like Lockheed Martin and General Dynamics.

Shipping companies, however, are coming off a wild week of trading in which stocks like DryShips inexplicably surged 1,500% in one week. They were largely lower on Tuesday. Energy companies also fell along with the price of oil, which slipped 0.3% to $47.90 a barrel.

It remains to be seen how the stock market will perform once Trump actually takes the Oval Office, but investors will have to look kindly at the performance of their stock portfolio under President Barack Obama. The Dow has risen nearly threefold since he was sworn into office.

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no apocalypse or armageddon..much to the naysayers regret..

“The Dow Jones Industrial Average climbed to new highs on Tuesday as the stock market continues to gain steam following the election of Donald Trump.”

the donald rally eh?

“There’s been a particularly sharp run-up in the stock prices of banks, as investors eye relaxed regulations under Trump, with financial behemoths like Goldman Sachs seeing their stocks surge 10% since Election Day.”

401

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~ by seeker401 on November 24, 2016.

7 Responses to “Dow closes above 19,000 for first time as Trump rally continues”

  1. I do not remember the last President-elects. Trump is not even in office and everything in the world is happening because of him. Has the President-elect ‘noise’ ever been so loud?

    • maybe in 2008 for obvious reasons.. 😉

      • yeah, I thought with Obama it was probably loud also, but while he was President-elect was it all because of him? Or much closer to when he was in office? We know the reaction of people this time around that lost. They were loud and automatically all the worlds problems were instantly because of Trump. I remember thinking how calm Obama, Biden, and Hillary were when Trump won. They were super calm. The people were not. Now the Democrats are emboldened by the people – keeping themselves aligned with the protests, but at the same time so many are saying ‘Let’s give Trump a try like Obama and party did the day after the election win (like Robert De Niro). The stocks plummeted election night because Trump won – now they are calling the stocks rise a Trump rally. I guess some people do not know who or what else to blame or rally behind.

  2. Main Street sales are still not responding, because Trump is unable to balance trade at this point and you are not yet seeing industries and jobs returning to U.S. soil. If you’ve been watching the BDI, pre-Christmas shipping is just as anemic as it has been for the last two Christmas “rallies” and it seems to have already lost steam, topping out & currently sliding.
    Trump has my faith, and I think he knows exactly what to do to fix overall market fundamentals, but he can’t just magically do this overnight. The current rally is a good indication of the faith people have in him, and god knows we desperately need consumer confidence, but I seriously doubt even Trump can stave off the coming correction, where stock prices and dividends stop relying on near 0% borrowing and start relying again on consumer sales (and if you’ve been watching, the bond market is currently crashing, with the promise of interest increases).
    Without the revitalization of the Western markets, sales will continue to be flat or sliding, and as interest rates rise, you will be unable to but a band-aid on that gushing wound unless sales jump drastically.
    I still have faith that Trump can repair our fundamentals by repairing the Main Street economy, but it WILL take some time.
    Trump is the best man for the job.

  3. Reblogged this on World Peace Forum.

  4. Dow rises to a fresh record close

    http://www.bbc.com/news/business-38212908

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