The Dow Jones average blasted past a record of 20,000 today with the index closing at a record 20,068. The Dow has risen almost 10 percent since the November elections. Surprising to most analysts and experts is the strength of the market despite recent events that have shaken the world such as the elections for President of the United States, Brexit in Europe, terror attacks and low growth of the U.S. economy.
The Dow is comprised of America’s 30 best-known blue-chip companies and has jumped one thousand points in just over 60 days.
President Trump has claimed some credit for the burst in the market and some believe his recent executive orders to reduce regulatory burden on domestic manufacturers and clearing the way for the construction of two oil pipelines have had an effect on the stock market in 2017. The president is just days into his term but the markets have been responding in record jumps since his win in the election last November. Trump sent out a tweet on Wednesday from his official POTUS account saying: “Great!#Dow20K.”
The Dow rose today a staggering 155.80 points, or 0.8 percent on Wednesday, to close at 20,068.51. The S&P 500 index jumped 18.30 points, or 0.8 percent, to 2,298.37. The Nasdaq increased 55.38 points, or 1 percent, and finished the day at 5,656.34.
While many experts in the financial world are surprised by the recent advance of the Dow past 20,000, most do not use that as a marker for the health of the market. Strategists and financial experts often rely on the They more often look S&P 500 index as a standard to determine the status and health of the marketplace.