Guest post by Joe Hoft
UDDATE— DOW JONES BREAKS STOCK RECORD— 11th straight closing where the DOW reached an all time high
** 16th consecutive day where the DOW reached an all time high (when including weekends and holidays)
More than Half a Month of All Time HIghs!
Dow up 11.44 Points!
The Dow Jones Industrial Average (DOW) hit another record new high on Friday! It was the 11th straight daily market close where the DOW set a new stock market high. This incredible rally started back on February 9th.
In the history of the DOW, going back to January 1901, the DOW record for most continuous closing high trading days was set in January of 1987 when Ronald Reagan was President. The DOW set closing highs an amazing 12 times in a row that month. Now the only other time that the DOW has reached 11 days in a row of closing highs is today. The 11th straight closing today where the DOW reached an all time high makes it one shy of the Reagan era record.
However, counting weekends and holidays, the DOW has closed with new highs over the past 16 days or for more than half this month! The only other time in the history of the DOW where the DOW closed with new highs over the same period was the rally in 1987 under President Reagan. The DOW closed with new highs over a 16 day period (counting weekends) ending on January 20th 1987 for the highest number of consecutive days with new highs – the best in DOW history.
Today the DOW broke this all time record!
By being up today 11 points the DOW landed at it’s 11th straight day of closing at a record all time high. It also results in today being the 16th consecutive day where the DOW reached an all time high (when including weekends and holidays). It also means that with Saturday and Sunday the DOW now sets a new record at an incredible 18 consecutive days where the DOW reached new highs every day the market was open! This is more than a half a month of consecutive all time high closing bells of the DOW!
Here are some more DOW highlights since Donald Trump was elected the 45th President of the United States:
* The DOW daily closing stock market average has risen more than 13% since the election on November
* Including November 9th through today, there have been 73 trading days. For more than 40% of these days, the DOW has reached all time highs (30 times).
* Since November 9th the DOW reached the 2nd highest close ever 11 times and the DOW reached the 3rd highest close ever another 9 times. More than half of the trading days since Trump won the election have resulted in new highs for the DOW or 2nd highest days ever. For more than two thirds (50) of the 72 trading days for the DOW since the election the closing mark was at least the highest, 2nd highest or 3rd highest closing day in history!
* This is only the 2nd time since 1937 that the stock market hit two new closing highs in the four trading days after the Presidential inauguration. This occurred in January of 1965, shortly after Lyndon Johnson was sworn in as President and again right after the Trump Inauguration in January of this year.
* Since the Inauguration on January 20th the DOW has risen 5% . According to Fox Insider, Trump’s first month in office is the DOW’s biggest gain for any President in his first 30 Days since way back in 1909 when Taft was President.
* Also, another record during the Trump Rally is that the stock market moved between 1000 point markers (between 19,000 and 20,000) in only 42 trading days. The only time it moved faster between significant markers was in 1999 when it took 24 days to reach 11,000. This time the market hit 19,000 on November 22nd shortly after Trump won the election, and then the market broke 20,000 on Wednesday January 25th. These new highs occurred only 42 trading days apart.
* As we pointed out on December 21st shortly after Trump was elected, never in its history had the DOW reached the number of closing stock market highs after an election. There were only 8 times in the history of the Dow where the Dow set new closing highs for 17 days or more in a 29 day period. The last time this occurred was nearly 20 years ago in 1998.
The prior high for the DOW before the November 8th election was on August 15th, 2016. This is why the ‘Trump Rally’ is such an anomaly and totally due to President Trump and his winning policies.
This Trump Rally is Amazing and Today Was History! Put it in the record books!