Remember when Trump won in November and how people were freaking out about the markets? The futures markets tumbled a bit and there was full-blown panic in the air with people thinking the markets were going to crash with Trump as President.
After weeks of close calls, the Dow made history on Wednesday by blowing past that key level for the first time ever.
The historic milestone leaves the Dow up a stunning 1,667 points since President Donald Trump’s victory in November.
The achievement is evidence of how optimistic investors have become about the prospects for the U.S. economy.
“The stock market has given him this extraordinary vote of approval. Happy days are here again,” said Ed Yardeni, president of Yardeni Research.
Wall Street is clearly betting that Trump’s plans to slash taxes, ramp up infrastructure spending and cut regulation will make the American economy grow faster. If that happens, without any disruptions to global trade, it could propel corporate profits, the lifeblood of stock prices.
Watch. The very same people who bragged about the stock market when that other guy was President will once again decry the market increases as just more evidence of the gap between “those on Wall Street and those on Main Street.”