Markets soar after Trump speech

By Yi Yang

Banks and other financial companies led U.S. stocks sharply higher in trading Wednesday, pushing the Dow Jones industrial average above 21,000 points for the first time.

Energy and materials companies were also among the big gainers, while utilities stocks lagged.

The rally came a day after President Donald Trump addressed Congress, reaffirming plans to cut taxes and push for other business-friendly policies.

“We have to see some concrete measures, some definite plans on where we are going with these things and then you’ll see it (continued growth). Again if it doesn’t materialize in the near future, I think you could see the market sell off and it should sell off, I mean we are up a thousand points in 28 days. It’s an incredible run,” said trader Alan Valdez of Silverbear Capital.

(AP)

 
 
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