NEW YORK (UPI) — Optimistic financial analysts have speculated that the Dow Jones Industrial Average could surpass the 20,000-mark before the end of the year. Tuesday, that looked like a good possibility.
The Dow closed over the 19,000-mark for the first time in the index’s 120-year history — finishing Tuesday at 19,023.87, up 67 points — continuing its post-election mega-rally.
The S&P 500 and Nasdaq also closed in record territory Tuesday — the former gaining five points to 2,202.94 and the latter up 17 points to 5,386.35.
The U.S. dollar also continued to rise Tuesday, for the 11th consecutive session.
Domestic indices have performed extremely well since Trump’s surprise election on Nov. 8 — a night that saw the Dow sink 800 points before rebounding in spectacular fashion.
Analysts say Trump’s economic acumen and plans for deregulation have been primary factors in the domestic market’s rally.
“People are now thinking the glass is half full,” analyst Jimmy Chang told the Wall Street Journal.
Analysts like Chang, however, caution that a lot of the factors that have pushed the indices up still need to be realized.
“There’s always the danger that you jump to conclusions way too fast because a lot of these expected benefits will take time to pan out,” Chang added.
Wall Street’s post-election surge also has most experts nearly certain the U.S. Federal Reserve will raise key interest rates at its policy meeting next month, for the first time in a year.
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