On January 17, 2018, The Dow Jones industrial average closed above 26,000 mark for the first time in its 121-year history. It increased 322.79 points to an astounding record of 26,115.65. The stock market has grown by 40% since the election as president of Donald J. Trump in spite of the daily attacks of the corrupt mainstream media, the Democrats, and the Deep State.
On January 17, the USA Today said on January 17 the following: “It was the Dow’s best one-day point gain in 14 months, or since the day before Donald Trump was elected president. The fresh milestone comes just 13 calendar days after the 30-stock index topped 25,000, marking the fastest 1,000-point climb in its history, according to S&P Dow Jones Indices.
President Donald Trump deserves a lot of credit for the improvement of the economy and the soaring stock market. By eliminating costly regulations to businesses and passing the Tax Cuts and Jobs Act in December 2017, the president has improved the economy which is now growing at more than 3% of the Gross National Product (GNP) with a 4.1% unemployment rate the lowest in 17 years, and a 6.8 % African American unemployment rate, the lowest in 45 years. Latino unemployment has decreased. Two million less people are receiving food stamps. Two millions jobs were created. Consumer confidence is an all-time high.
The Tax Cuts and Jobs Act slashed the corporate tax rate to 21% from 35%. USA Today reported that “Wall Street analysts have been boosting their 2018 earnings forecasts for U.S. companies at the quickest pace in a decade.” Of course, since the stock market has risen so quickly, it is possible that a correction may come in the future.
