Stocks opened at record highs following President Donald Trump’s speech to congress Tuesday night.
The Dow Jones Industrial Average opened Wednesday morning at a record high of 20,957.29, and continued to rise, quickly surpassing 21,000. As of 9:46 a.m. ET, the Dow stood at 21,029.65, an increase of 1.04%, or 217.41 for the day.
And according to CNBC, Wednesday already marks the best day for the stock market in 2017.
This chart, which pulls data from Google Finance, Yahoo Finance and MSN Money, shows the movement of the Dow over the past three months.
Click to Enlarge
(Source: Google Finance, Yahoo Finance and MSN Money)
Just a few weeks ago, the Dow passed the 20K milestone for the first time in history.
Fox Business pointed out this advance of 1,000 as the Dow’s fastest increase in history.
Dow’s latest 1K-point advance fastest ever, #Trump policy priorities fuel rally https://t.co/CaT0gkG00l pic.twitter.com/06DoFtaMTK
— FOX Business (@FoxBusiness) March 1, 2017
This increase comes just after the president’s speech to Congress Tuesday night. A CBS poll showed viewers strongly approved of Trump’s speech, saying it was presidential and unifying.
CBS pointed out that the majority of viewers were Republicans. However, 24% of Democrats interviewed said they were more optimistic after the president’s speech.
This rally could be what the market needs to push the Federal Reserve to increase interest rates in March. As of Tuesday, traders predicted the chance of a rate hike at more than 50%.
