Latest Global Business News

Dow hits 20,000 as earnings, Trump rekindle rally

 
U.S. shares rallied on Wednesday,... with the Dow closing above 20,000 for the first time... on the back of solid earnings and expectations about Donald Trump's pro-growth initiatives.
 
Korean shares also extended their gains following another stellar day for Wall Street.
Kim Min-ji looks beyond the digits. The Dow Jones Industrial Average smashed through the 20-thousand-point level for the first time ever on Wednesday.
 
The historic rally... was helped by strong earnings... and expectations about President Donald Trump's spending projects and other proposals for growth.
 
The Dow jumped nearly zero-point-eight percent to close at a record high of 20-thousand-68-point-5.
The Dow has now risen by more than 17-hundred points since Trump won the election back in November.
 
The S&P 500 and the Nasdaq also hit all-time highs, with both having risen nearly 10 percent since Trump's presidential victory. "I think the momentum is still strong and I don't think that in the next couple of quarters that the momentum will reverse itself."
 
Since his inauguration, Trump has signed several executive orders, including one to ease regulations on domestic manufacturers and another giving the green light for the construction of two controversial oil pipelines -- rolling back key environmental actions of the previous administration.
 
dow hits 20000
 
"There has been a positive response to some of the presidential initiatives that have been put into place already, bringing back XL pipeline and other things like that. That certainly led to a lot of materials makers advancing, energy, the expectation of reflationary policies has certainly helped the financials, particularly."
 
Korean shares also closed higher on Thursday.
The benchmark KOSPI added over 0-point-8 percent,... while the tech-heavy KOSDAQ surged nearly 1-point-2 percent.
Market bellwether Samsung Electronics hit a fresh record -- topping 2 million won per share, or 1-thousand-725 dollars, at one point in trading.
 
It ended up just shy of 1-point-3 percent.
As for prospects for the Korean market down the line --
 
Korean shares are expected to extend the gains seen on Wall Street.
Now if the uncertainties around Trump's new policies diminish, the market rally is expected to live on in the U.S.
 
But, experts point out that lingering concerns over increased protectionism... and to what extent Trump will be able to fulfill his pledges... will remain important variables for the foreseeable future.

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