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Markets

Dow peeks above 19,000 for the first time

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Opening sequence

Markets

Dow peeks above 19,000 for the first time

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COMING UP:Dow peeks above 19,000 for the first time

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Transcript

00:00:00
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APPLAUSE
>> The Trump victory parade continues on Wall Street on Tuesday sending the Dow above 19,000 for the first time ever. I'm Conway Gittens in New York. Investors continuing to go on a buying spree with the Dow, the S&P 500, and the NASDAQ all at record highs.
00:00:19
Now, the buying momentum is hinged on three things, although we still haven't received any new information from the incoming Trump Administration. Number one is the belief that the Trump Administration is going to fuel economic growth through infrastructure spending. Number two, by lowering taxes and also by less regulations specifically when it comes to healthcare and financials.
00:00:42
One other thing to note is that the market is now pricing in a 100% chance of a Federal Reserve rate hike in December. Which means that the market is growing more comfortable with the idea that the economy might get going and that will mean higher interest rates. Now just to give you an indication of how strong the buying momentum is, volumes are pretty steady.
00:01:07
Even though we're in a holiday shortened week, we do expect trading volumes to taper off as we head into Thursday and into a half day session on Friday.