Forex news for New York trading on January 25, 2017
In other markets:
– S&P index up 0.80%
– Nasdaq up 0.99%
– Dow up 0.78% and cracks and closes above 20K for the 1st time ever
The day belongs to the Dow. I know it is an antiquated index of only 30 "industrial" stocks. I know the broader S&P and Nasdaq is more reflective of the market… BUT it has been flirting with the 20K level for the last month and a half without getting above it. Today it broke through and closed above for the 1st time ever. What does it mean? Well, it will get headlines globally. There will be the stories explaining "How come?" Those stories will focus on the the changes in Washington and how Trump has not even talked about tax cuts, or major regulation changes. Imagine when he "makes do" on those promises? PS the Nasdaq and the S&P closed at record highs as well today.
Forexlive Americas forex news wrap: Dow 20K…finally. Bond yields higher. Dollar lower? Yep!
