New York, N.Y. – President Trump’s joint address to Congress left Wall Street in good spirits. On Tuesday, the Dow soared over 300 points and closed above 21,000 for the first time in history.
The rally comes barely a month after the down broke another record—closing above 20,000.
CNN reports the key to the record-breaking rally was not necessarily anything President Trump said, but rather how he said it.
“The speech didn’t break any new ground, but it was much more orderly and methodical than we are used to hearing,” said Nicholas Colas, chief market strategist at brokerage firm ConvergEx.
According to a CNN Money report, a rally at the height of the dotcom bubble that took in the late 90s took place a lower level, but it was more impressive on a percentage basis.
Big banks also contributed to the surge, thanks to confidence the Federal Reserve will raise interest rates this month.
Read more: http://cnnmon.ie/2mF5VeB
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