Continuing the stock market rally since Donald Trump’s election, the Dow, Nasdaq and S&P 500 all hit new all time highs simultaneously yesterday.
And then this morning, the Dow crossed 19,000 for the first time in it’s history, briefly touching 19,015 before coming back down to 18,988.81 as at writing.
Like I have said before, all the investors who were piled up in the bond markets in the pursuit of safety are now betting on growth and earnings increases as Trump promises to roll back taxes, regulations and increase defense and infrastructure spending.
The greed in the market is becoming palpable even though I personally still think that this rally might give way to a slump in the immediate term before climbing again deep into Trump’s presidency. Don’t call that a prediction though, after all I did say that Dow would end the year closer to 18,000. My excuse is of course, thinking that Hillary Clinton and her more regs, more tax policies would pass so I’m kind of glad to be wrong here.
Either way, we’ll keep an eye on things here for you as usual. Peace.
