The stock market keeps breaking records, and the recently passed tax cut is only helping things along.
Seven trading days. That’s how long it took the Dow to rocket from 25,000 to 26,000.
The market’s latest milestone, reached on Tuesday just after the opening bell, easily sets the record for the fastest rise between 1,000-point barriers. The Dow has been around for 121 years.
The Dow has spiked almost 8,000 points, or about 42%, since President Trump’s election. The stock market boom reflects enormous excitement on Wall Street about record corporate profits and strong economic growth at home and abroad — all of which could be boosted by the GOP tax overhaul.
“The market has certainly come out of the gates fast in 2018 after a stellar 2017,” said Art Hogan, chief market strategist at Wunderlich Securities.