Today is Wednesday 23rd November 2016 and we are discussing yesterday’s rise in the Dow which closed for the first time ever above 19000.
The Dow Jones Industrial Average hit a new record high on Tuesday peaking at 19,044 in late afternoon trading and finished the day at 19,023
The Dow, which includes 30 brand name stocks, is up nearly 4% since Donald Trump’s victory over Hillary Clinton in the US Presidential elections.
The S&P 500 and Nasdaq are also at record highs.
The markets now seems to think that Trump’s win, combined with Republicans retaining control of both the House of Representatives and Senate, should mean that many of Trump’s market-friendly policies will be enacted.
Drugmakers Merck and Pfizer have rallied on hopes that the Trump administration won’t focus so much on reining in the price of medications as Clinton might have. This could also be good news for health insurers.
And Wall Street banks JPMorgan Chase and Goldman Sachs have popped on expectations that Trump will be more lenient to financial firms.”
The key question is of course, how long can this stock market bubble continue? Well for the moment, there seems to be no end in sight. It does look at least initially, that a Donald Trump Presidency will serve to fuel those fiat and manipulated financial systems which hard-core physical precious metal investors loathe.