Trump Smashes Another Economic Record

  • 2018-09-20
  • Source: TTN
  • by: TTN Staff
Trump Smashes Another Economic Record
By Gage Skidmore from Peoria, AZ, United States of America via Wikimedia Commons
 
Trump's economy is roaring, and one of the beneficiaries is the stock market. On Thursday the market set record highs fueled by the growing economy.

According to Fox Business:

The Dow and S&P 500 recorded fresh all-time highs Thursday with investors waving off the tit-for-tat exchange of newly imposed trade tariffs placed on U.S. and Chinese goods and focusing on the latest, positive economic data.

The Dow Jones Industrial Average rallied 251.22 points, or 0.95 percent, to 26,656.98 -- marking the Dow's 100th record close since the election of President Donald Trump and its first since January. The broader S&P 500 jumped 22.8 points, about 0.8 percent, to 2,930.75. The tech-heavy Nasdaq Composite gained 78.19 points, or 0.98 percent, to 8,028.23.

Economic data released Thursday included a reading on weekly jobless claims. The number of Americans filing for first-time jobless claims fell to 201,000 in the prior week, well below the 210,000 estimate and the lowest late 1969.

Manufacturing in Philadelphia rebounded in September, jumping to 22.9. Existing home sales were flat in August.

The trade war with China still rages on which brings some economic uncertainty, but it doesn't look like it is concerning investors in a major way.

 Source: TTN
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