What is the highest level the dow has reached
Sean Farrell and Graeme Wearden. Thursday 10 November Yet on the second day after his election Wall Street investors were in a bullish mood, with the Dow Jones industrial average hitting a record high. Conner Campbell at financial betting firm SpreadEx said: In the days before the vote, share indexes rose when it looked like Hillary Clinton was winning and fell at a hint that Trump could catch her.
On 7 November, the day before the election, the Dow had its best day for eight months after the FBI cleared Clinton over her private email server. And on Wednesday markets duly plunged in early trading as Asian and European investors responded to the shock result. But by the time Wall Street opened for business Trump had made a conciliatory acceptance speech in which he promised to heal divisions and work with other countries.
After a volatile opening as investors tried to make sense of events, the Dow rose on the day. Trump also rowed back on threats to sack Janet Yellen, who chairs the Federal Reserve central bank. Traders then looked for opportunities. If Trump was going to be more sensible than his campaign pronouncements implied, then what about his policies?
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Trump has pledged to cut corporation tax, a move all businesses would like. He has promised to cut back regulation and scrap climate change targets, including abandoning the Paris agreement to reduce emissions. Oil and gas shares duly rose. Speculation that the Republicans could ease rules on banks, including scrapping the Dodd-Frank regulations introduced after the financial crisis to curb risky behaviour, sent bank shares soaring.
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These promises sent shares of mining and construction companies up. Drug companies also rose. Both Trump and Clinton talked about reining in charges for treatments but Clinton was more aggressive and specific. Tom Elliott, an analyst at financial advisers deVere, said a Trump presidency had created opportunities for investors but that they should prepare for a bumpy ride.
Dow Jones Industrial Average - Wikipedia
A typical boom and bust scenario may follow. International edition switch to the UK edition switch to the US edition switch to the Australia edition. The Guardian - Back to home.
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