The Dow Breaks 27,000 for the First Time Ever

July 11, 2019
| By: TTN Staff| Uncategorized | | 0 comments

The economy continues to thrive under President Trump as the Dow Jones Industrial Average has risen above 27,000 for the first time in history.

According to CNBC:

The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell that signaled easier monetary policy could be implemented later this month.

The 30-stock average broke above 27,000 for the first time in its history, before trading just below that level. The Dow was up 0.5%, or 132 points, around 9:50 a.m. ET.

Meanwhile, the S&P 500 rose 0.2% to trade back above 3,000 while the Nasdaq Composite gained 0.2%. The S&P 500 first broke above 3,000 on Wednesday. 

UnitedHealth shares surged more than 4% after the White House dropped a proposal to eliminate drug rebates. CVS Health and Cigna also jumped on the news, gaining 7% and 14%, respectively. 

Federal Reserve Chairman Jerome Powell recently told Congress that the economy is showing signs of slowing which increased optimism that a rate cut was coming.

Related posts

Comment

Your email address will not be published.

By submitting this form, I hereby consent to TrumpTrainNews.com's Terms of Use and Privacy Policy, which permits TrumpTrainNews.com and its affiliates to contact me.