Dow Jones breaks through 25,000 as New Year comes roaring in

Tax reform and a surging economy saw 2017 end on a high note for President Donald Trump and 2018 came roaring in on Thursday when the Dow Jones industrial average broke 25,000 for the first time in its 120 year history.

The 30-stock index climbed 154 points, tying the fastest 1,000-point move in history, following the release of stronger-than-expected jobs data, CNBC reported — the Dow broke above 24,000 for the first time on Nov. 30.

President Donald Trump, fresh of the victory of seeing sweeping tax reform passed, was quick to mark the historic occasion on social media.

“Dow just crashes through 25,000. Congrats!” he tweeted. “Big cuts in unnecessary regulations continuing.”

https://twitter.com/realDonaldTrump/status/948944124132167680

“The Dow hitting 25,000 was a pretty wild idea even a year ago,”  Steve Claussen, vice president of trader strategy at E-Trade, told the network.

“And while its symbolically important, the real story is never just a number,” he said. “It’s the underlying strength that is pushing markets this high.”

Trump forecast the Dow reaching 25,000 on Wednesday, a feat “few thought would be possible this soon into my administration,” he tweeted.

Watch what happens when a reporter accuses Nikki Haley of treating Iranian people different than Palestinian people

https://twitter.com/realDonaldTrump/status/948738634722742273

Chris Zaccarelli, chief investment officer of Independent Advisor Alliance, said that he expects the rise to continue, telling The Washington Post that he expects the Dow to climb as high as 30,000.

“I do believe we’ll see 30,000 before the bull market ends,” Zaccarelli said.

A social media user summed things up fairly well, tweeting: “With President Trump’s agenda it won’t be the last time. Goodbye failing Obama-era!”

https://twitter.com/ChristiChat/status/948939097296556037

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

Success! Thank you for donating. Please share BPR content to help combat the lies.
Tom Tillison

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

BPR INSIDER COMMENTS

Scroll down for non-member comments or join our insider conversations by becoming a member. We'd love to have you!

Latest Articles