Early Tuesday, ’19,000 Rally’ baseball caps began to appear all over the stock market floors. The Dow Jones had reach its highest mark, during the 120 years of its existence. It is considered to be the stock market’s gauge, which went over 19,000 on Tuesday.
During morning trade, Dow grew by as much as 58 points, hitting intraday new record high (19,014.73). Although it eventually went down, it still has an approximate 20 point (0.1%) gain. This is following a record-breaking day that Dow Jones had on Monday. Along with the Dow Jones industrial average, NASDAQ composite, Standard & Poor’s 500 stock index, and Russell 2000 closed at record levels. The last time that all the markets achieved the same success at the same time was on December 31, 1999. This is also the second straight day that the four major stock indexes in the U.S. have reached new highs. S&P 500 is currently trading flat, but it did rise over 2200 (2203.56), which is a first. The NASDAQ composite and Russel 2000 increased by 0.2%, respectively. Russell 2000 has had 12 consecutive session gains, prior to Tuesday.
It has been almost two years, since the Dow past the 18,000-mark. It is one the slowest increases the index has had, after taking close to six years to go from 14,000 (July 2007) to 15,000 (May 2013). Two key elements for the extended amount of time was the Great Recession, along with the biggest stock market collapse, since the Great Depression. Sources say that this is a sign that the rally which followed Donald Trump’s surprise victory is continuing to blossom, as investors continue to increase their bets that the presidential administration will be more investor-friendly. TrendMacro’s chief investment officer, Don Luskin told USA Today, “Whatever else the future holds, Trump has already made the U.S. stock market great again.”