The Dow Jones Industrial Average traded above 30,000 for the first time ever on Tuesday.
President Donald Trump touted the milestone at the podium in the White House briefing room alongside Vice President Mike Pence, congratulating “the people of our country”.
The president’s daughter, Ivanka Trump, tweeted the news Tuesday regarding the Dow Jones hitting 30,000 for the first time ever.
Dow Jones Industrial Average hits 30,000 for the first time ever!
Congratulations America! 🇺🇸 pic.twitter.com/pQFRdxaIHL
— Ivanka Trump (@IvankaTrump) November 24, 2020
“I just want to congratulate everybody. The stock market– Dow Jones industrial average just hit 30,000, which is the highest in history. We’ve never broken 30,000, and that’s despite everything that’s taken place with the pandemic,” the Commander in Chief expressed.
President Trump also said that he is “very thrilled with what’s happened on the vaccine front”, adding, “That’s been absolutely incredible. Nothing like that has ever happened medically, and I think people are acknowledging that. It’s having a big effect.” Continued Below
“The stock market just broke 30,000– never been broken that number. That’s a sacred number, 30,000,” President Trump proclaimed.
Nobody ever thought they’d see it. That’s the 9th time since the beginning of 2020, and it’s the 48th time that we’ve broken records during the Trump administration,” the president pointed out.
“I just want to congratulate all of the people in the administration that worked so hard. And most importantly, I want to congratulate the people of our country, because there are no people like you,” he added. Video Below
President Trump’s remarks:
As reported by Breitbart:
The Dow traded 520 points higher, or 1.75 percent. The S&P 500 climbed 1.6 percent, with all 11 sectors up. The Nasdaq climbed around 1 percent. The Russell 2000 hit an all time high, climbing around 1.9 percent.
The stock market has experienced a powerful rally as drug makers announced test results showing their coronavirus vaccines appear to be highly effective. The Dow is up nearly 12,000 points since its lows in March.
If the rally holds, November will have been the best month for stocks since 1987.
Energy was the best performing sector of the S&P on Tuesday morning, rising 4.5 percent. Year to date, the energy sector is down 34.86 percent as the pandemic beat down demand for fuel. Shares of Boeing rose 4.3 percent. Shares of United Airlines jumped more than 8 percent. Shares of rental car company Avis Budget rose 5.3 percent. Shares of Macy’s rose nearly 5.4 percent.