Stocks rise since election of TrumpBy Mike Finnegan | 01/25/2017 11:44pm
The Dow Jones Industrial Average, a measure of the stock market's performance based on the 30 largest publicly-traded companies, broke the 20,000 point ceiling on Wednesday of this week for the first time in its history.
The Dow was bordering along the 20,000 point mark for several weeks, as investors were waiting for more information on President Trump's plans in office before continuing with the market rally. Since the president's victory in November, the Dow has risen over 1,700 points.
Since the Dow leveled out in 2009 to 6,440 points following the financial crisis, the stock market measure climbed over 13,500 points under the Obama Administration.
While uncertainty is low and the market is bullish, some experts have attributed the market's performance to being fueled by expectations that may be overly optimistic due to the potential loss of global trade. President Trump has already scrapped the Trans-Pacific Partnership and is moving swiftly toward renegotiating NAFTA.
"We need open borders, open trade and open flow of capital. If we start going down this deglobalization road, this market is going to lose its euphoric underpins pretty quickly," said Joe Quinlan, the chief market strategist of U.S. Trust, to CNN.