The Dow Jones hit another record high this week, surpassing 24,000 points after gaining over 300 points Thursday.
“The Dow just broke 24,000 for the first time (another all-time Record),” President Donald Trump tweeted after the milestone was reached. “If the Dems had won the Presidential Election, the Market would be down 50% from these levels and Consumer Confidence, which is also at an all-time high, would be ‘low and glum!'”
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Even CNN could not deny that the stock market has done well since the 2016 presidential election
CNN Money reported that this latest jump is “building on incredible post-election surge.”
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“It’s yet more evidence of excitement among investors about the strengthening economy and record corporate profits that could be bolstered by the GOP plan to slash corporate taxes.”
The 1.4 percent surge was the largest the Dow has seen since March 1.
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Ever since Trump was elected, the Dow has closed at a record high 80 times. It has jumped nearly 6,000 points in total.
Moreover, the gross domestic product increased 3.3 percent in the third quarter under Trump.
Trump also tweeted a video from Fox Business showing that the Dow has experienced its fifth 1,000-point growth spurt since the beginning of 2017.
According to the New York Post, the latest increase was due to Republican Arizona Sen. John McCain announcing his backing of the Senate tax reform bill.
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“After careful thought and consideration, I have decided to support the Senate tax reform bill. I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families,” McCain said in a statement.
Investment strategists believe that the recent record highs the Dow is seeing have investors excited.
“Investors are feeling golden,” said Sam Stovall, the chief investment strategist at CFRA Research.
“Until you get signs that this economy is likely to roll over and die, investors believe stocks remain the place to be.”
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