In another win and record for the stock market, the Dow Jones Industrial Average climbed above the 25,000 mark for the first time in its history on Thursday, completing a 7,000 point increase since President Trump was elected. If the index stays above that number, it would set another record: The speediest advancement to a new 1,000 point interval after jumping from 24,000 to 25,000 in only 23 trading days.
According to the Wall Street Journal, the numbers are climbing so rapidly for a number of reasons, including low unemployment:
Faster economic growth around the globe and improving sentiment from consumers and businesses—both of which were elusive for many years since the financial crisis a decade ago—have helped power this rally in recent weeks. A raft of economic data in the first days of the new year continued to suggest steady expansion in the U.S., China and Europe.
According to CNN, government regulation (gasp!) is also a factor in the stock market’s continued success as Federal Reserve Chairwoman Janet Yellen has kept interest rates extremely low in order to give the economy a hand following the Great Recession. President Trump’s push — and success — to pass a tax cut also drove a lot of the recent gains, although he celebrated the news while claiming that “big cuts in unnecessary regulations” are responsible.
Dow just crashes through 25,000. Congrats! Big cuts in unnecessary regulations continuing.
— Donald J. Trump (@realDonaldTrump) January 4, 2018
Whatever the true cause of the rapid gain, according to some Wall Street strategists, we’re “long overdue” for a hiccup in the market.
(Via Wall Street Journal & CNN)