On Wednesday morning, the Dow Jones Industrial Average broke 20,000 for the first time.
After trading just below this milestone — which is notable largely for its psychological significance — for about a month, a recent rally in stocks sent the blue chip index above 20,000 for the first time. The benchmark S&P 500 and tech-focused Nasdaq were also trading at new records on Wednesday.
And the White House is excited about it.
Following the Dow cracking 20,000, President Donald Trump simply tweeted, “Great!”
Trump adviser Kellyanne Conway was more explicit on Twitter, writing on Wednesday morning that the Dow cracking 20,000 was “The Trump Effect.”
Eric Trump, the President’s second-oldest son, also appeared to credit his father’s election win for the rally and said on Twitter, “Amazing… and he is just getting started!”
After the election of Donald Trump, the stock market enjoyed a sharp rally to new record highs as investors took Trump’s plans to cut taxes and increase infrastructure spending as positives for the US economy.
Trump has also continued his campaign theme of being antagonistic towards US trading partners since…