Robert Donachie on January 31, 2018
All major U.S. stock market indexes opened in the green Wednesday morning off the heels of President Donald Trump’s first State of the Union address Tuesday night.
The Dow Jones Industrial Average, the NASDAQ and the S&P 500 posted marked gains at the opening bell Tuesday. The Dow was up well over 200 points, the NASDAQ over 50 points and the S&P 500 over 15 points.
Stocks took a significant hit Tuesday at the closing bell. The Dow took a 363 point tumble Tuesday just hours before Trump was set to address members of Congress, marking one of the benchmark indexes worst trading days since Trump defeated former Secretary of State Hillary Clinton in November 2016.
Wednesday’s opening is more in-line with how the market has performed since Trump took office. The Dow spiked roughly 8,000 points since the November 2016 election and the S&P and NASDAQ have followed suit, respectively.
The market has gained between $4 and $6 trillion in capitalization in Trump’s first year, well over the gains in Obama’s first year.
The president’s speech Tuesday evening, like many State of the Union addresses, focused on the unity of the American people, along with a number of domestic and foreign policy issues.
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