Reuters news agency reports the US Dow Jones Industrial Average reached 21,000 for the first time on Wednesday. The report said that last night’s speech to congress by US President Donald Trump lifted investor’s optimism. Bank stocks surged on hopes of an interest rate hike and industrial stocks soared as President Trump stated he wanted to boost the economy with a $1 trillion spending proposal on infrastructure. Since President Trump’s election, bank and industrial stocks have gained the most and the Standard and Poor’s 500 stock market finally broke out of a stagnant trading range it has been mired in since December 7th. Gold, as expected, dropped as investors become more optimistic about the future of the US economy.
Reuters Report found here: http://www.reuters.com/article/us-usa-stocks-idUSKBN1684CM?il=0