Thursday, 2 March 2017

Dow pierces 21,000 after Trump speech, rate-hike chatter

The Dow on Wednesday blasted through the 21,000 mark for the first time after US President Donald Trump's measured tone in his first speech to Congress lifted optimism and investors viewed a looming interest rate hike as a glass half full. The three main stock indexes surged more than 1.3 percent to close at record highs. Trump on Tuesday said he wanted to boost the US economy with a "massive" tax relief and make a USD1 trillion push on infrastructure, bets that have helped Wall Street scale fresh records since the election. But it was a break in Trump's often-abrasive speaking style that encouraged many investors who have worried he may struggle to push his agenda through a Congress reluctant to widen the government's budget deficit.

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