Stock market records continue breaking since the presidential election as the Dow Jones Industrial Average closed at higher than 19,000 for the first time in its 120-year history.
The S&P 500 and the NASDAQ also closed at all-time highs. Many financial specialists and economists think the market rise is due to a “Trump Effect.”
"Trump is sounding a lot more presidential," Elite Financial Management president Bill Dendy said. "He did not put together a special prosecution to go get Hillary Clinton. He didn't say we are building a wall starting tomorrow with our biggest trading partner, Mexico. He did not label China as a currency manipulator, but said we would play with those who played fair.”
It is thought that the market responded favorably to a “toned-down” Trump.
“That sounds more moderate. That sounds more sustainable. That sounds more like what the market likes in a presidential candidate and a president,” Dendy said. “However, it all could be erased with one bad tweet - one mistaken step. It is a fragile market as we continue to go."
Financial advisors like Dendy say this kind of market movement is important to all American families.
“Most of us will have some money in the market somewhere – in our 401Ks, in our mutual fund choices or in other areas,” he said. “We are all invested in our U.S. economy. It is wonderful to have that move up and have all time new highs."
