A rise in tech and oil prices had S&P and Nasdaq closing at record highs on Monday, per CNBC.
The Dow Jones Industrial Average closed high as well, with Cisco Systems rising in the market following an international cyberattack late last week.
Joe Sowin, head of global equity trading at Highland Capital Management, called the oil comeback a “snap-back rally in crude.”
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That said, an increase production from the U.S. could cap energy’s gains, said Jason Pride, director of investment strategy at Glenmede. “Our Take: Oil should trade in the $50-70 range as increased demand is met by supply from U.S. share oil producers,” Pride said in a note Monday.
Facebook, Alphabet, and Apple all saw a rise as well, which took the Nasdaq to chart-topping highs.
Following the cyberattack on Friday, President Trump called an emergency meeting and commissioned Homeland Security Adviser Tom Bossert to assess a potential threat to the U.S.
The “ransomware” attack affected factories, hospitals, and schools in more than 100 countries across the globe.
But experts are saying that in general, “everything seems to slide off this market.”
Ongoing changes in Washington, in addition to tensions with North Korea, have investors “desensitized.”
Bruce McCain, an executive at Key Private Bank, said “the market continues to hold up with its Teflon curtain.”
Compare that with Obama:
So here it is – a comparison between Presidents Trump and Obama in their first six months since their respective election wins and in their first nearly four months in their Presidencies.
In President Trump’s first few months since the election and since his inauguration the US Stock Markets are at record highs and millions of Americans are benefitting in their retirement savings accounts.
* The DOW daily closing stock market average has risen 14% since the election on November 8th. (On November 9th the DOW closed at 18,332 – on May 12th the DOW closed at 20,896).
* Since the Inauguration on January 20th the DOW is up more than 5%. (It was at 19,827 at January 20th for an increase of more than 1,000 points.)
* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd and closed above 21,000 on March 1st.
* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.
* The US Stock Market gained $2 trillion in wealth since Trump was elected!
* The S&P 500 broke $20 Trillion for the first time in its history.
* In the history of the DOW, going back to January 1901, the DOW record for most continuous closing high trading days was set in January of 1987 when Ronald Reagan was President. The DOW set closing highs an amazing 12 times in a row that month. On February 28th President Trump matched President Reagan when the DOW reached a new high for its 12th day in a row!
The stock markets under President Obama moved in the exact opposite direction in the first few months after President Obama’s election win over Republican Senator John McCain.
* The DOW daily closing stock market average tanked (went down) -14% between Obama’s election win on November 4th, 2008 and May 13, 2009. (On November 4th the DOW closed at 9,625 – on May 13th the DOW closed at 8,284. It went down more than 1,300 points). This is the opposite direction of President Trump’s rally.