Post-Election Rally, Bets On Infrastructure Push Dow Past 20,000 Mark
The Dow Jones industrial average just pushed past 20,000 for the first time ever, marking a major milestone in the stock market’s history as investor confidence in President Donald Trump’s policies stirs even more growth.
The Dow climbed 0.8% to 20,069 Wednesday as the post-election rally continues and more investors bet on Trump's plans to push for tax cuts, fewer regulations and more infrastructure spending, all of which could help U.S. businesses, the Wall Street Journal reports. The Dow is up more than 9% since Nov. 8 and the S&P 500 and Nasdaq Composite both closed Tuesday at record highs.
A surge in bank stocks and mining and manufacturing companies led the rise, with the KBW Nasdaq Bank Index of big U.S. commercial lenders up 23% since Election Day and infrastructure companies like Caterpillar enjoying boosts as Trump moves to reopen oil pipeline projects. [WSJ]