The Dow Jones Industrial Average rose to 19,013 points Tuesday morning, breaking 19,000 and reaching a new all-time high.
The S&P 500 index was up 0.2 percent, and only two out of its 11 sectors were trading low Tuesday morning. The NASDAQ Composite Index gained 19 points, up 0.4 percent. All three major U.S. stock indexes, and the small-cap stock index the Russell 2000, hit new records.
Markets have been on a tear since President-elect Donald Trump defeated Democratic nominee Hillary Clinton. The Dow rose over 1,000 points just one week after the election, and domestic stock markets experienced trading highs three times since Trump’s victory.
Oil companies maintained their gains since Trump’s win, with Exxon Mobil, Chevron, and Valero all up from where they closed last Friday. Oil producers are betting that the Organization of the Petroleum Exporting Countries (OPEC) will reach an agreement to cut production by the end of November.
Gold and copper prices have picked up steadily. Bank, healthcare, and industrial stocks are being gobbled up by investors as they expect Trump to be favorable to these industries. Trump is expected to slash taxes and regulations on businesses.
European stock markets ticked up 0.5 percent. Japanese and Asian markets also experienced steady gains Tuesday morning.
The stock market’s recent rally is incredible when one considers where it was at nearly a decade ago. The Dow, S&P, and NASDAQ hit a 12-year low March 9, 2009.
The Dow hit 6,547.05 March 9, 2009, its lowest point since April 15, 1997. That is nearly 13,000 points lower than where it sits currently.
The S&P 500 was at 676.53, its lowest point since Sept. 12, 1996. It sits at nearly 2,200 Tuesday, a gain of over 1,500 in under a decade.
The Nasdaq composite fell 25 points to 1,268.64 in March of 2009, and is currently at 5,377 as of 10:00 a.m. EST Tuesday.
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