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Stock markets surge to all-time highs; investors bullish on Trump's first week
Trader Gregory Rowe works on the floor of the New York Stock Exchange, Monday, Jan. 23, 2017. (AP/Richard Drew)

Stock markets surge to all-time highs; investors bullish on Trump's first week

The Dow Jones Industrial Average surged to an all-time high on Wednesday morning, crossing the 20,000 threshold for the first time in history shortly after the opening bell. The S&P 500 and NASDAQ indexes also rose to all time highs, exceeding forecasts.

Investors appear to be reacting bullishly to the first few days of Donald Trump's presidency, which has seen a number of executive orders that are perceived to be business-friendly, as well as a push for greater infrastructure spending.

Some of Trump's executive orders had an easily visible impact on market sectors. According to CNBC, Trump's executive orders directing the work on two major oil pipelines to restart helped the materials sector gain 2.5 percent in trading on Tuesday and Wednesday. Likewise, the promise of vastly increased infrastructure spending sent construction materials company Caterpillar's stock soaring. Aerospace giant Boeing has also seen its stock enjoy a healthy bump with the promise of increased military spending in the future.

Overall, however, the market seems to have responded positively overall to Trump's pro-business tone, as stocks have staged a broad rally since his inauguration — a rally that isn't obviously tied to any particular political policy. Many Wall Street observers, including prominent forecaster Ralph Acampora, predict that the stock market surge is likely a long-term one, and that the Dow Jones in particular may settle in to a new baseline level around 20,750 by June.

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Leon Wolf

Leon Wolf

Managing Editor, News

Leon Wolf is the managing news editor for Blaze News.
@LeonHWolf →