The US stock market continued to rally into 2020 Friday, with the Dow Jones Industrial Average breaching 29,000 points for the first time.
“The Dow Jones Industrial Average traded 48 points higher, or 0.2% to break above 29,000 for the first time ever. The S&P 500 climbed 0.2% while the Nasdaq Composite advanced 0.3%. Pfizer shares rose 1.7% to lead the Dow’s gains. Health care and tech were the best-performing sectors in the S&P 500, climbing 0.5% each,” reports CNBC.
“The December jobs report was a little softer than expected but not so much so as to stoke big worries about the US consumer and the health of the overall economy,” said Alec Young, director of global markets research at FTSE Russell. “Although both readings were slightly below expectations and the recent trend, neither is overly alarming by itself.”
Stocks jumped earlier this week after tensions between the United States and Iran eased, with President Trump saying leaders in Tehran appeared to “stand down” following a missile strike against US troops in Iraq.
Read the full report here.
AMERICA UNLEASHED: Stock Market HITS ALL TIME HIGH, Unemployment at 49 YEAR LOW
The US economy continued to smash records and surpass expectations in September, with new data showing the American unemployment rate at a half-century low and the Dow Jones Industrial Average reaching an all-time high.
According to CNBC, the Dow rose 219 points Thursday with the S&P 500 also breaking its previous record. The President hailed the news on social media, saying “S&P 500 HITS ALL-TIME HIGH Congratulations USA!”
S&P 500 HITS ALL-TIME HIGH Congratulations USA!
— Donald J. Trump (@realDonaldTrump) September 20, 2018
The stunning economic data may spell disaster for Democrats hoping to retake Congress this fall, with House Minority Leader Nancy Pelosi vowing to repeal the ‘GOP Tax Scam’ should her party win big during the midterm elections.
Read the full report at CNBC.
BREAKING NOW: Stock Market APPROACHING ALL TIME HIGH, Could Break Record Any Moment
The United States stock market approached its al-time high Tuesday; with investors and industry insiders saying it could smash previous records at any moment.
“The next big test for the stock market will be whether the major indexes can break through all-time highs, just a short distance away,” reports CNBC. “Stocks have rallied on expectations that the Fed should be cutting interest rates in the near future, and that President Donald Trump would stand down from his threat to put tariffs on Mexico, as he did on Friday. The Dow Jones Industrial Average and S&P 500 are both up more about 5% in June. The Dow is up for six-straight days and futures pointed to another big gain Tuesday.”
“Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!” posted the President earlier Tuesday.
Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!
— Donald J. Trump (@realDonaldTrump) June 11, 2019
The stock market surge comes just days after President Trump announced a last-minute deal with Mexico on immigration; suspending a potential 5% tariff on all Mexican-produced goods.
“I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended,” said Trump last Friday. “Mexico, in turn, has agreed to take strong measures to….stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department. Thank you!”