From the WSJ.com:

Dow Hits 20000 for First Time

by Erik Holm

Since Election Day, the stock market has found fresh legs to add to one of the longest bull-market runs in U.S. history

Grab your hats.

The Dow Jones Industrial Average just powered through the 20000 level for the first time ever, setting an all-time intraday high three trading days after the inauguration of Donald Trump. Moments after the open, the Dow shot up to 20033.77.

The new record comes as stocks have been on the rise for much of the past three months, finding fresh legs since Election Day to add to one of the longest bull-market runs in U.S. history. The Dow industrials closed under 18000 as recently as Nov. 4, but have risen 12% since then.

The stock market was to have crashed terribly, worldwide, when the UK voted for Brexit last year. Yes, the stock market went down but it came back up.

Doomsayers — mostly on the Left — also insisted the stock market would tank following the election of Trump. Wrong. In fact, if benefited from the “halo effect.”

Businesses were hearing the right things. Some, who had plans to leave the US decided to stay where they were. American businesses are hearing the right words: lowering of corporate taxes, eliminating some regulations, ObamaKare mandates removed and/or changed, all from a president who wants to grow the country and knows how to build and how to make a payroll.

Caution.

Don’t get cocky.

Much of this number reflects reality. A lot of it doesn’t. Because of that — though the numbers are good and it’s an historic occasion — there will be a “correction” as they say. The correction will hurt. The Dow will go down. But it will all even out in the end.

Don’t think it’s going to continually be like this.

BZ