American markets saw another record day today, the 17th since Election Day per CNBC, in a surge that seems to be largely ignoring this week’s terror attacks and instability around the globe.
Today, the Dow Jones Industrial Average closed at 19,974.62, the S&P 500 index rose 0.36 percent to close at 2,270.76, and the NASDAQ Composite index rose 0.49 percent to close at 5,483.94.
The 20,000 point mark is the highest the Dow Jones Industrial Average has ever trended and is seen by many as a sure sign of growth.
To put the speed of these changes in perspective, Marketwatch points out that the Dow Jones Industrial Average just cleared the 19,000 point mark last month, on Nov. 22. Before that, it took 480 trading days (days in which the markets were open, not counting weekends or holidays) to go from 18,000 to 19,000 points.
Ongoing market optimism is partially tied to the election of Donald Trump, who has promised to repeal laws passed in the wake of the American financial crisis with the goal of ensuring the same crash does not happen again and lower taxes.
Starting tomorrow, a number of macroeconomic indicators will confirm or deny the market’s optimism. Look for the latest on existing home sales on Wednesday, durable goods, real GDP and personal income on Thursday, new home sales and consumer sentiment on Friday, and many more.