Maybe it was the president’s may-as-well-be-Academy Award-winning speech or something else, but the Dow-Jones Industrial Average closed above 21,000—the highest it has ever been.
While Trump’s Congressional late-February speech was easily epic (possibly epoch), some were left wondering about tax-reform details and deregulation—crucial points at the market’s post-election gathering.
“A lot of people say this is euphoria, but [it] doesn’t feel like it,” Chief Equity Investment Officer Eddie Perkins told NBC. “It feels like people are reluctantly buying stocks… That’s why I’m a little wary,” he added.
The DJIA’s 330-point leap was associated with Goldman Sachs having the highest amount of gains. A similar occurrence happened in late January—the 30-stock index closed above 20,000.
More, Standard & Poor’s 500 hit a 1.5-percent improvement—it even momentarily spiked past 2,400—that has never happened before. They pointed to financials’ three-percent rise to lead advancers. On February 9th, 2017, the index closed at over 2,300—a first. The Nasdaq had a 1.4-percent climb.