Wall Street titans and large technology firms led the Dow Jones industrial average past 25,000 on Thursday, the latest in a year-long series of milestones for the blue-chip index.
The widely followed gauge began 2017 with speculation about if and when it might top 20,000 after surging in the wake of Donald Trump’s election to the US presidency. Traders, who bet heavily that the real estate mogul and a Republican Congress would reduce taxes and trim regulations that they said crimped corporate growth, subsequently drove the Dow up 26 percent for the year. The broader Standard & Poor’s 500 index gained 20 percent in the same period.
Both have continued climbing early this year, and Trump, who has often taken credit for market gains in his presidency, did so again on Thursday, noting that “big cuts in unnecessary regulation” are continuing.
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"Dow Jones index tops record 25,000 with a push from lenders, tech firms" https://t.co/ySgkJwBF19 pic.twitter.com/qHnlvTll7l
— Washington Examiner (@dcexaminer) January 4, 2018
Personally, and I may be wrong but I think that the market would have responded favorably to any GOP president with a congressional majority. I don’t think it had anything to do with the fact that Trump happened to be the Repub that won. I haven’t seen any genius out of the guy at all.
If someone found a cure for cancer right now Trump would take credit for it.
I agree. I’m sick of articles that say Trump is responsible for the sun shining today too. I saw earlier that he was taking credit for no fatal airline crashes in 2017. And his supporters eat this (expletive) up.
The good economic news may just be due to the fact that the 8-year reign of Obama is over. But in the back of my mind, I keep waiting for all of this good economic news to come crashing down.
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