The Meaning of Wall Street’s Value
President Donald Trump used Twitter Thursday morning to revel in the highs for the stock market and consumer confidence that has been set over the past few days and weeks.
Since election day, the stock market has posted $3.2 trillion in gains and the Dow has increased roughly 28 hundred points.
The Dow surpassed 21,000 on its way to a record-high close Wednesday.
It jumped to 21 thousand from 20 thousand in just 24 trading days, tying the record for the fastest move between two 1,000-point landmarks.
But what does this actually mean?
Dave Sather of Sather Financial Group in downtown Victoria said this could be beneficial to the local economy.
“When companies are making more money and therefore they’re stock is worth more, they’re more apt to money in a local economy to expand the Toyota plant in San Antonio, to expand the Caterpillar plant in Victoria,” said Sather about the growth.
Analysts cited Trump’s statements endorsing lower corporate taxes and infrastructure investments as part of the reason for the 303-point rise in the Dow on Wednesday.