SEVERE WX : Freeze Warning View Alerts

What trade war? Dow hits record high

What trade war? The Dow just soared to its first record high since late January.The milestone shows t...

Posted: Sep 21, 2018 5:43 AM
Updated: Sep 21, 2018 5:43 AM

What trade war? The Dow just soared to its first record high since late January.

The milestone shows that Wall Street is mostly unfazed by the escalating trade clash between the United States and China.

The Dow's 251-point leap on Thursday marked its 100th record close since President Donald Trump's election, according to S&P Dow Jones Indices. The S&P 500 also notched an all-time high.

The Dow closed at 26,657. It has spiked about 3,300 points since a low on April 2, when investors were more worried about trade. They're betting that the strong US economy will power through the outbreak of tariffs.

"The market is showing incredible strength," said Paul Hickey, co-founder of Bespoke Investment Group.

Stocks spiked late last year and in January after Republicans enacted a sweeping corporate tax cut. The euphoria sent the Dow soaring from 25,000 to 26,000 in just seven trading days. Even market optimists were questioning whether stock valuations had gotten out of hand.

"In January, it felt like the market was bulletproof," said Dan Suzuki, portfolio strategist at Richard Bernstein Advisors. "That's no longer the case."

Eventually, that rally crumbled in dramatic fashion, punctuated by two single-day 1,000-point plunges. Wall Street was overcome by fears about inflation and spiking interest rates. It was the scariest moment for US investors in years.

"Sentiment had gotten really out of hand. The pullback was a reality check. The lack of a new high for so long has let the market play catchup to fundamentals," Hickey said.

And the fundamentals look very good. Corporate earnings have gone through the roof, thanks to strong economic growth and the corporate tax cut. The unemployment rate has dropped to just 3.9%. And US economic growth has climbed to an annualized pace of 4.2%.

"What matters most to investors is corporate profits," Suzuki said. "The profit trends are healthy — and accelerating. That's tremendously bullish for US stocks."

Lafayette
Cloudy
36° wxIcon
Hi: 50° Lo: 30°
Feels Like: 36°
Kokomo
Partly Cloudy
36° wxIcon
Hi: 46° Lo: 24°
Feels Like: 29°
Rensselaer
Cloudy
34° wxIcon
Hi: 46° Lo: 31°
Feels Like: 34°
Lafayette
Cloudy
36° wxIcon
Hi: 48° Lo: 29°
Feels Like: 36°
Danville
Cloudy
34° wxIcon
Hi: 50° Lo: 30°
Feels Like: 28°
Frankfort
Cloudy
32° wxIcon
Hi: 49° Lo: 26°
Feels Like: 24°
Frankfort
Cloudy
32° wxIcon
Hi: 46° Lo: 25°
Feels Like: 24°
Monticello
Cloudy
33° wxIcon
Hi: 48° Lo: 27°
Feels Like: 33°
Monticello
Cloudy
33° wxIcon
Hi: 47° Lo: 30°
Feels Like: 33°
Logansport
Cloudy
° wxIcon
Hi: 46° Lo: 25°
Feels Like: °
Snow to Two Nights of Freezing...
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 709455

Reported Deaths: 13234
CountyCasesDeaths
Marion967001722
Lake51824946
Allen39279673
Hamilton34580406
St. Joseph34207541
Elkhart27376432
Vanderburgh22091394
Tippecanoe21886212
Porter17952299
Johnson17556374
Hendricks16837310
Clark12705190
Madison12358337
Vigo12226244
Monroe11484166
LaPorte11175204
Delaware10374184
Howard9677211
Kosciusko9152114
Hancock8000139
Bartholomew7896155
Warrick7698155
Floyd7567176
Wayne6910198
Grant6852171
Boone6562100
Morgan6404138
Dubois6086117
Marshall5792109
Dearborn570776
Cass5689102
Henry5582101
Noble542683
Jackson493970
Shelby479895
Lawrence4347118
Gibson429089
Harrison428970
Clinton420253
Montgomery418386
DeKalb412184
Whitley381439
Huntington380180
Miami373265
Knox367089
Steuben366657
Putnam353360
Jasper351346
Wabash347878
Adams338153
Ripley334968
Jefferson313280
White308554
Daviess289699
Wells286681
Decatur279192
Fayette277362
Greene270785
Posey269133
Scott261553
LaGrange254270
Clay253545
Randolph235880
Washington231131
Spencer228031
Jennings225147
Fountain208945
Sullivan207942
Starke205452
Owen192656
Fulton192140
Jay186429
Carroll186120
Perry181036
Orange178053
Rush170824
Vermillion166143
Franklin165635
Tipton161043
Parke144616
Blackford133931
Pike130334
Pulaski114045
Newton104234
Brown100740
Crawford97914
Benton97113
Martin82915
Warren80115
Switzerland7698
Union70110
Ohio56011
Unassigned0408

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events