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Stocks Rises Pushing the Dow Closer to a historic 20000 mark - Alldamoney

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Stocks Rises Pushing the Dow Closer to a historic 20000 mark

Since after the Nov. 8 presidential election stocks in the U.S has been on the rise, fueled by optimism on U.S. President-elect Donald Trump's policies which include deregulation and infrastructure spending expected to boost the economy.



The Dow and Nasdaq Composite rose to record highs rally on Wednesday, sending the Dow up 9 percent and the S&P 500 6 percent higher.
Propelled  by a 1.68 percent gain in Goldman Sachs, the Dow Jones industrial average ended just 25 points shy of 20,000, a level it has never breached. The first time the Dow  hit 10,000 was in 1999.
While the Dow’s 20,000 mark represents a major milestone on Wall Street, some investors believe that the piercing  level could signal a continuation of the rally.


"To have enough energy to push through that barrier would mean there's a lot of buying power in the system," said Brad McMillan, Chief Investment Officer for Commonwealth Financial Network
And Jeff Zipper, managing director for investments at Private Client Reserve at U.S. Bank in Palm Beach, Florida confirming said  "The market is focused on the Trump agenda, which is tax cuts, infrastructure spending and deregulation".
The S&P 500 is trading at about 17 times its expected earnings, which is well above its 10-year average of 14, Pushing investor’s perception on US stocks too expensive according to Data from Reuters.
Trump said in his campaign, he will remove some existing laws such as Dodd-Frank, which was passed in response to the 2008 financial crisis but which some investors say is too restrictive. Eight of the 11 major S&P sectors rose, with the financial index's 1.12 percent rise, leading the advances which brought the financial sector's gain since the election to 19 percent on investors bet.

About 6.1 billion shares changed hands in major U.S exchanges even though some investors are already away for the year-end holidays,trading below the 7.5 billion daily average over the last 20 sessions.

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