Eddie Ghabour returns… Dow Hits 20,000 for the first time The Dow Jones Industrial Average last Wednesday hit the psychologically significant threshold of 20,000 in intraday trade, representing a milestone for the blue-chip gauge and highlighting a relatively speedy path higher for the stock market in the wake of Donald Trump’s election win in November.
The Dow DJIA, +0.49% is up about 9% since Trump’s Nov. 8 election victory, the S&P 500 index SPX, +0.47% has gained nearly 7%, while the Nasdaq Composite IndexCOMP, +0.65% has advanced roughly 8% during that period.
The equity rally is supported by expectations that Trump will unleash a raft of pro-business policies, including a rollback of regulations, tax cuts and fiscal spending. It remains to be seen if the Dow will close at 20,000. The gains for the Dow on Wednesday came after Trump signed executive orders on Tuesday to move forward with the construction of controversial infrastructure projects, Keystone XL and the Dakota Access pipelines, which offered a boost to stocks as it supported expectations that a ramp up in infrastructure spending—a boon for economic growth—would be one of the centerpieces of his administration.
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