Speed Reads

a first

Dow breaks 20,000 points for first time in its 120-year history

Less than one week after President Trump took office, the Dow Jones Industrial Average made history Wednesday by opening for the first time ever above 20,000 points. The Dow, which has consistently rallied since Trump won the presidential election in November, has been hovering right below 20,000 for more than a month; on Jan. 6, it came within just one point of the breakthrough.

Reuters reported Wednesday's boost was due to the numerous executive orders Trump has signed since taking office Friday, including his revivals of the Keystone and Dakota Access oil pipelines. Because of Trump's vows to roll back regulations, energy companies and financial services have seen the biggest jumps in their stocks.

However, not all credit goes to Trump. CNN Money noted the jump "is also a reflection of the solid economy Trump inherited from former President Obama." "The economy has come a long way in eight years," said JPMorgan Funds chief global strategist David Kelly. "Overall, it's a healthier economy and does justify a much higher stock market than eight years ago."