In what could be known as the Trump Market, the DOW is surging. The DOW reaches a new high every third day since Trump was inaugurated. New highs were hit on Thursday and Friday with the market cracking 20,200 for the first time in history.
The DOW has had a lot of firsts since President Trump was inaugurated. The Dow Jones Industrial Average daily closing has increased by more than 10% since Trump was elected on November 8th. If you start on November 9th, there have been 64 trading days. On 21 of those days a new high was set. That’s basically a third of the days.
This is only the second time since 1937 that the stock market set records the first four days after inauguration. The last time this happened was 1965 when Lyndon Johnson was inaugurated.
Another thing to point out with regards to the Trump Market is the DOW moved 1,000 points in only 42 days. It went from 19,000 to 20,000 November 22nd and cracked 20,000 Wednesday this week. Only one time in history did this happen faster. This was in 1999 when it happened in 24 trading days.
Before the November 8th election, the last time a daily high was set for the DOW was on August 15th, 2016. That’s why it’s very clear that the Trump Market is in effect. I hope you don’t get sick and tired of all this winning!