CNBC: Dow breaks above 26,000 for the first time, Merck and UnitedHealth jump
* The Dow rose broke above 26,000. It first traded above 25,000 on Jan. 4.
* The S&P 500 and Nasdaq composite also hit record highs.
* UnitedHealth and Citigroup reported better-than-expected earnings.
U.S. stocks traded sharply higher as investors chased a market breaking out on better-than-expected earnings and rising economic optimism under President Donald Trump.
The Dow Jones industrial average broke above 26,000 for the first time earlier in the session. At 11:13 a.m. ET, the Dow traded 140 points higher, slightly below the milestone level. The 30-stock index was boosted by gains in UnitedHealth, Boeing and Merck.
It took the Dow just 12 calendar days to move from 25,000 to 26,000, making it the fastest 1,000 move on record for the index. It first traded above 25,000 on Jan. 4.
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Update: Dow 26,000: The stock market is a runaway freight train (CNN).
WNU Editor: The Dow Jones has gone back below 26,00 .... but the bull market continues. For those who have 401Ks .... these are definitely the good times.
Update #2: This debate is going to intensify as the U.S. mid-term elections approach .... Economists agree: Trump, not Obama, gets credit for economy (The Hill).
2 comments:
God of course the stock market is booming if taxes are lowered. What's the surprise? The debt will increase even further. You basically give corporations the money back you previously asked them to pay and tell them going forward less taxes. But money isn't free and you can't just print your way out of it. Now if trade with other countries also picks up and consumer spending/confidence, and ideally savings too then you'll have succeeded. But all you did so far is give away money to companies. Of course the stocks go crazy. You just put it all on the credit card of the American people and the 1% become richer and richer and richer. Is that what you want? Financial equivalents of Gods ruling over you? Because of policies? They don't even work for it. But then again, I might be an idiot :)
This is gonna end badly..
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