Dow hits record milestone of 20,000 on high hopes for Trump administration

“High hopes for a business-friendly Donald Trump White House helped the Dow crack the 20K milestone, and market watchers think the president’s policy can keep stocks humming even as concerns about prices rise,” Jacob Pramuk reports for CNBC.

“The industrial average has now topped 20,000, rising 9 percent since its close on Election Day. Stronger U.S. economic data and optimism about Trump’s business policy, among other factors, have pushed not only the Dow, but also the other major averages and small-cap stocks, higher in that time,” Pramuk reports. “Experts said Trump’s proposals, including corporate tax cuts, repatriation of cash overseas, deregulation and infrastructure spending, give investors enough hope for rising corporate earnings that the Trump enthusiasm may continue well into his administration. ‘The market is perceiving this as a business-friendly administration that is coming into office for the next four years… It wouldn’t take much to give earnings a real boost. I think that’s where the market is coming from and I think it will continue,’ said Bruce Bittles, chief investment strategist at Baird.”

“While the Dow components are considerably less industrial than they used to be, most of the companies have a lot to gain from Trump’s plans. He wants to cut the corporate tax rate from 35 percent to 15 percent and touted that plan in meetings with business executives since he took office,” Pramuk reports. “Trump will try to give companies incentives to bring cash back to the United States. Apple, for example, has $216 billion parked abroad. Goldman Sachs and JPMorgan Chase would benefit from looser financial regulations, while Exxon Mobil and Chevron could get boosts from easier energy production rules.”

“Trump has already signaled he will be friendly to the oil and gas industry, as on Tuesday he signed executive orders to advance the controversial Keystone XL and Dakota Access pipelines,” Pramuk reports. “‘I think that all of this together has encouraged investors, given them some semblance of hope,’ said Robert Pavlik, chief investment strategist at Boston Private Wealth.”

Read more in the full article here.

MacDailyNews Take: Boom!

72 Comments

            1. Your idol is horseshit so I’m not surprised that everything looks like horseshit to you.

              Thank doG, Obama was able to pull us out of the last RWNJ raping of this country. It will take another Democrat to clean up after the sexual predator finishes.

            2. awwww… did the pathetic victim of a successful Black President get his feelings hurt or is it stumps hand on your pvssy. I just love this victim mentality you tRumpanzees have adopted.

            3. snivel, snivel… that mean President Obama…. Sorry your life is so pathetic that a sexual predator is your idol. When are you going to get yourself surgically attached. He’s already got a hand on you pvssy.

  1. It’s amazing what can be accomplished with a real president who knows what he’s doing, understands how the country, capitalism, and the economy works, and who is more interested in working for America than working on his golf game.

    1. It’s amazing the damage that can be accomplished with a president who does not know what he is doing, and trusts greedy corporate special interests to run roughshod over the country, capitalism, and the economy, and who actually owns a golf course in Scotland, where he worked on his golf game while you were bitching about the successful economic recovery that occurred in the last 7 years — all without the circus and self-aggranndisement of the present administration.

      Please go to a political forum if the only thing you came here to do is parrot pro-trum propaganda all day.

      1. He’s been whining the last 8 years. Playing the victim card. I think it is so amazing that these tRumpanzees lives were so pathetic that the lying sexual assaulter could pvssy whip them so easily.
        Th simple minded are easily led though.

        1. No charges or conviction whatsoever proving President Trump is guilty of sexual assault. None. Zero. Zip. zilch. NADA!

          Totally reckless comment and you have zero credibility simply because you hate the guy. My, my, liberal HATE is the absolute worst kind.

          Now, President Clinton is really who you are talking about and you would be right! Dozens of women claiming sexual harassment and rape allegations going back DECADES.

          Tell me, how many accusers did Clinton settle with out of court and how much money was paid to the victims … hmmm? Take your time, you can find the information on the Internet in less time than it takes to smoke a joint.

          Your faithful Trumpanzee … 🐒

          1. Surely you jest. sexual predator loving idiot. I don’t hate trump. I don’t care about him. I a just amazed at the level of stupidity of those that support a lying sexual predator as president. There you go again. Can’t defend your sexual predator so you bring up clinton. I’ll give you a free clue since you are in such a bad state, jobless and on welfare from Obama. I was on public access TV with the Arizona Militia calling for Clinton to be impeached so that weak argument of yours goes nowhere. Terrible example to use in comparison to your small minded idol. How many marriages? How many children from how many different women? LOL. What a stupid comment. I’m surprised you haven’t brought up the tolerance thing. After all you tolerate sexual predators and liars.

            1. “I was on public access TV with the Arizona Militia calling for Clinton to be impeached so that weak argument of yours goes nowhere.”

              What weak argument? You are making my point! Repeat after me — CLINTON WAS IMPEACHED. So cowboy hats off to you for a job WELL done!

              Pay attention CX, it is a world of difference like night and day regarding the sexual facts of Trump and Clinton. Stick to the FACTS. Trump at the end of the day is clean by comparison.

              Interesting you did not address my post regarding the lawsuits women brought against Clinton where he paid them big bucks to shut them up and go away. You conveniently ignored those facts because it does not fit your narrative. You also don’t have a problem with a married boss (President) having sex with a young impressionable intern and then lying about it to the world. Disgusting. Let’s repeat, you conveniently ignored those facts because it does not fit your narrative.

              Weak argument my ass! 😆

              Your faithful Trumpanzee. …🐒🇺🇸

            2. So sexual assaults to you are clean? You still cannot defend your lying sexual predator of a president. Clinton had consensual sex and got called on it. Ok. trump is a sexual predator, was being sued by a minor for rape and settled. Has many, many accusers.

            3. “Clinton had consensual sex.”

              Yes, as a boss with an intern working for him on the job with his wife down the hall. My, my, what a shining exemplary example of cheating, lying to a grand jury and the world on TV and then getting IMPEACHED.

              Don’t know for sure, but seem to recall Clinton settled out of court paying a fine of almost a million dollars and he might have lost his law license over it. His sexual mistreatment of using women for pleasure dates back to the 1970s. You need to read up on THE LONG LIST of women accusers that makes Trump look like an altar boy.

              Sad to read you have no moral equivalency in this particular matter and somehow equate guy locker room talk (words) with action. 🤔

            4. Locker room talk. Sure. Uh huh. Locker room talk. Would you let your daughter date a guy that thinks he has the right to and admits he has walked up to women and just grabbed their pvssy? Yes or no? I thought not but you would attach yourself to that guys anus and call it bliss.
              Spare me.

            5. No way, Jose. I do not, will not, justify or support a sexual predator like Bill Clinton.

              He cheated, lied and stalked dozens of women. He settled lawsuits out of court, lied to the world and was IMPEACHED.

              So sorry to read you don’t have a problem with that and trying to make a ridiculous case that Trump has done the same thing and is WORSE. Are you kidding me?!?

              You are entitled to your own opinion.

              You are NOT entitled to your own facts.

            6. “Just kiss. I don’t even wait. And when you’re a star, they let you do it. You can do anything.”
              “Grab them by the pussy. You can do anything.”
              Yep. Can’t defend your sexual predator in chief so you whine about Clinton. Boo Hoo.

            7. Nothing to defend? 🤔

              Private bragging locker room guy talk that may or may not be true. You don’t know for certain and neither do I.

              But if true, sounds like a typical red blooded successful and rich male out on the prowl on a Friday night. What’s wrong with that? Hmmm?

              My sister laughed at the Libtard self righteous indignation and mischaracterization. She said women are much, much worse.

              All you got is BLANK words, CX. And your PC indignation interpretation. At the end of the day, does not amount to a hill of beans … 🐒

              And BTW, Clinton IS a proven and SUED sexual predator and was IMPEACHED. You can ignore it and wish it away all you want. Does not change a factual atomic particle, not now, not ever!

            8. Sounds like you know all about stupid. Anyone that has more of a problem with unproven Trump guy talk over Clinton lies and lawsuits, yup, that would be extremely stupid and ignorant … 🤔

  2. You two clearly are not paying attention.

    This apparent man-child is cancelling agreements that would benefit your country, you’re going to pay for a wall that isn’t necessary, and people that have existing healthcare are going to lose it.

    Oh, and lets not forget as of today the unnecessary investigation in the millions of illegal votes that apparently took place, robbing this guy of the popular vote.

    Are the financial markets happy? Of course they are, with a reduction in regulations, maybe you can have a repeat of 2008 in a couple of years.

    1. Wrong.

      This is a revolutionary president the likes of whom this country has rarely seen. And you haven’t seen anything, yet.

      Trump voters like me saved the country with their votes last November.

      1. Revolutionary might turn out to be an appropriate term.

        Sounds like you’re happy so far, with muzzling of your agencies, bankers taking power of key administration positions, reduction of women rights. Stacking of the Supreme Court might be next.

        Illusory, imagined ‘wrongs’ being done to the President by millions of voters. None of this worries you, hey?

        And that wall is not going to be cheap.

        As a Canadian, I’m very worried about the impact this President is going to have on the environment which we actually, you know, share.

        When most other countries are working to limit any additional damage we do, he’s going to step you back in time. I cannot see how that is good. But hey, I’ve been wrong before, just like you have many, many times.

        1. What “reduction of women’s rights?” It sounds like you’re the only one with “illusory, imagined ‘wrongs'” here.

          There are many major pipelines in the world today and, despite the histrionics of you and your ilk, we’re all still here, thanks. (It’s not that difficult: any breach causes an automatic shutdown, gets repaired within hours, the pillage is cleaned up, and the oil starts flowing again.)

          Here’s an idea for Lib/Dem/Progs in America: You had your chance. It sucked. Eight years of malaise, weakness and appeasement. Time for you to shut up and get out of the way while real men do real work for real change.

          1. There was a 52,000 gallon pipe line leak here in Canada the other day on native land, and a larger one in the US in December in Dakota. Pipelines aren’t as safe as you would like to believe.

            And if you’re unaware of President Trumps thoughts and intentions regarding womens reproductive rights you should read up as they say.

            And your logic of “if we’re still here it’s all good” is as shortsighted as ever.

            Enjoy!

            1. Learn how to build a real pipeline.

              President Trump knows how to build things.

              I suggest you wait to protest if there is some actual action regarding “women’s reproductive rights” which compels you to object. That is actual logic.

              If you, as a Canadian, are objecting over U.S. states’ rights to legislate against the murder of babies in the womb, I suggest you take a look at some modern sonograms and recalibrate your moral compass, assuming you have one (not that your opinion as a non-U.S. citizen means anything).

            2. It’s a Canadian company that will be building the pipeline in your country, my friend. And they have been building pipelines for years, but pipelines, like your ever-changing moniker, are not infallible.

              If you are not concerned whatsoever with a bunch of men deciding what a woman can do with her body then more power to you. You’re clearly just like him. That says a lot.

              In the meantime, as your regulatory agencies are forced to remove important data from your populations eyes, the National Parks Service is being censored, efforts are also being made most-likely to reduce voters rights.

              This hasn’t even gotten to the fact that this President, for whatever reason, can’t get over the fact he lost the popular vote to a girl. Can’t Get’ Over. It. Why?

              He won the election, why can’t he just get on with it. But he can’t. And that’s telling, no?

            3. Don’t waste your breath talking to a citizen of a nation from a nation that embraces torture, denying justice to others and disrespecting the sovereignty and opinion of others. They’ve abandoned truth for their version of alternative reality. They have their course of real history to repeat.

            4. Again, I suggest you take a look at some modern sonograms.

              It’s not a matter of a “woman’s body.” It’s another person’s body inside a woman’s womb. At least half of all abortions are female. Who represented their right to life during the recent temper tantrums thrown by intolerant, highly-confused women?

              Trump is correct. Roe v. Wade was a fiasco. It’s unconstitutional. Trump, rightly and constitutionally, wants the states to make their own determinations on infanticide.

              Murder is murder.

              A 30-week-old human baby yawning in a modern 3D sonogram:

              Abortion proponents advocate murder.

            5. Oh the horror. People being free from big government. I guess you like that big government intruding into others lives. Still nice try using a photo that has no basis in reality as far as a woman’s choice to have an abortion goes. But then again, you’re not too bright are you?

            6. The Presidential election is won based on electoral votes and, therefore, candidate’s campaigns have one goal: Win 270 electoral votes. Claiming you “won” something with popular votes is akin to a baseball team claiming they won the World Series because they scored more total runs, but lost 4 games in the contest.

              Remove California, where neither campaign competed due to the aforementioned method of winning the race, from the recent U.S. Presidential Election and President Trump won by 1.4 million votes.

              2016 U.S. Presidential Election popular vote total outside California:
              Trump: 58,474,401
              Clinton: 57,064,530

              California in 2016 proves the true genius of the Electoral College: It was designed to prevent regional candidates from dominating national elections and it worked perfectly.

              2016 U.S. Presidential Election electoral votes won:
              Trump: 306
              Clinton: 232

          2. Well let’s talk about women’s rights for a moment. In the past century, women finally got the ability to vote, choose their careers, and choose when and how to have children. That last one has been under constant attack by backward-thinking people who bleat out the dogma that every sperm is sacred and the a woman’s role is to have as many babies as possible.

            Planned Parenthood, the target of ill-informed religious zealots including many in the the republican party, has been objectively one of the most successful things to a woman’s freedom. 97% of their work has nothing to do with abortion — the vast majority is education, planning, and healthcare counseling, and medical testing to ensure that women have the freedom of a healthy, meaningful life. Unfortunately the federal funding that assists this critical mission is at risk due to the extremely sexist views of the current administration.

            As for oil pipelines, “Drill Baby Drill” is a stupid strategy. Oil in the ground needs to be treated as a strategic reservoir for future generations to use wisely. Today oil is about the cheapest it has ever been as a percentage of income. It is literally cheaper than bottled water in most places. America does not need to continue to waste its accumulated natural resource wealth today to feed illogical sized cars. The time to drill is when the country actually needs more oil. Of all the infrastructure projects that need to be done, these two pipelines are about the lowest priority one can imagine. Nice opportunity to play politics, though, eh, Firsty? Your Exxon secretary of state couldn’t be more pleased to allow his crony friends to get richer than they already are at a time when America needs better schools, better healthcare, better internet, repaired bridges and roads, and so forth. Your president is a photo-op guy, nothing more.

  3. It would be nice if this is real but the stock market bump is all smoke and mirrors. Company earnings don’t support this a rise. It is all based on the presumption that the business climate will improve enough to raise earnings. Rallies like this build on themselves until they collapse under their own weight with the first bit of bad news. This looks very much like a market bubble (http://www.investopedia.com/features/crashes/crashes1.asp and subsequent articles such as the tulip bulb crash)

    Now, having said that, what could make this more realistic is if congress passes the company tax holiday where up to a trillion dollars could flow back into the economy.

    Until that happens, I plan to follow advice from one of the greatest financial people ever. As Warren Buffet says: “Be fearful when others are greedy and greedy when others are fearful”

  4. The majority of economists say that the reason for the rise in stock prices is that they are “likely to increase US after-tax corporate profits.”
    However, they do not think his policies are “likely to increase US real GDP growth.” –IGM Forum

  5. I’m really looking forward:
    – More people with taps that can be lit up
    – More earthquakes in areas that never had earthquakes before
    – More oil spills
    – More exploding trains
    – More shifting of wealth to the ultra-rich

    I will laught at:
    – Trump supporters
    – Those who don’t support Trump who didn’t vote
    – Those who don’t support Trump who didn’t do their best to get out every single person they know

    #nomoreexcuses, right wingers — we’ll know soon enough.

    1. Same type of people came out but with different hyperbole when Ronald Reagan became president. Whacko Left speeches, signs trashing up the place after protests, finger on the button hype, etc.

      In the end, after 8 years, two landslide elections, while not perfect, Reagan got the last laugh.

      1. You know, I’m confident he can do some good. Really I am. But he needs to run his own show, implement single payer for everyone, make sensible reforms to immigration, not build a wasteful wall, and more. If he is himself he will do the right thing in most cases I’m sure.

        We’ll see how this meeting goes tomorrow night. He is a Republican President with both Republican and Democrat tendencies. I know he does not want anyone to want for health care, but the party does.

        I feel he is being manipulated, but I also think at some point he will realize that and then go rogue.

        We shall see,

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