While Democrats continue to criticize President Donald Trump for his actions against Iran, which came amid an ongoing impeachment battle, what most Americans are likely noticing on Friday is the new and historic record set on Wall Street Friday, with the Dow hitting 29,000 for the first time.
According to The New York Post, the monumental record was set just after 10 a.m. on Friday, with the DJIA hitting 29,009.07. Even more impressive is that the record was smashed even after a somewhat sluggish December jobs report.
Experts are hailing the new record as a clear sign that the American economy is thriving, with investors more confident than ever before in the direction of the markets and economy.
“All things being equal, it’s a signal that investors are more comfortable with the economy, the decrease in trade tensions and (now) the decrease in Middle East tensions,” Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance, said in a statement.
Some believe that the recent signing of a preliminary, phase one trade deal with China that will be signed next week, thanks to Trump’s persistence, was a major boost for investor confidence, driving the markets up even more.
Even though many of Trump’s critics predicted with certainty that Trump as a president would wreck the stock market, the opposite has happened. From election day in 2016 to Friday’s historic record, the market has gained an unprecedented 10,676 points, according to CNN.
Trump himself retweeted several quotes about the new record that were made in the media on Friday morning, including one from Fox News’ Stuart Varney.
“11,000 points gained in the Dow in the 3 years since the Election of President Trump. Today it may hit 29,000. That has NEVER happened before in that time frame. That has added 12.8 Trillion Dollars to the VALUE of American Business.” @Varneyco @FoxNews The best is yet to come!
— Donald J. Trump (@realDonaldTrump) January 10, 2020
The S&P and NASDAQ markets also joined the Dow in setting historical highs on Friday.