wall street bull stock market donald trump


President Trump is speaking a language Wall Street understands — spending — and welcomed word of big infrastructure projects by pushing the Dow Jones Industrial Average above 20,000 for the first time.

Trump tweeted last night: “Big day planned on NATIONAL SECURITY tomorrow. Among many other things, we will build the wall!”

The calculus among investors appears to be that that will cost, big time, pushing more money into the hands of workers and companies and boosting the economy.

In the opening minutes of trading, the Dow was up 98.78 points, or 0.5 percent, to 20,011.49.

While most retail stocks have been in the dumps lately — hurt by a weak holiday selling season, the rise of e-commerce and fears that new tariffs promised by Trump could disrupt supply chain — the sector largely joined in on the rally.

The S&P 500 Retailing Industry Group gained 0.6 percent to 1,400.78 as the Dow hit its historic high.

And the fashion-industry gainers included, Hanesbrands Inc., up 2.3 percent to  $23.15; Ascena Retail Group Inc., 2.4 percent to $5.11; Urban Outfitters Inc., 1.5 percent to $27.05; Fossil Group Inc., 1.9 percent to $26.29; American Eagle Outfitters, 1.7 percent to $15.23; Under Armour Inc., 1.5 percent to $25.50, Abercrombie & Fitch Co., 1.4 percent to $11.95, and Tiffany & Co., 0.7  percent to $79.86.

The market has been flirting with 20,000 for some time and apparently was looking for some issue to push it past the psychological marker.

Stock investors have largely supported Trump since his surprise win, pushing up the market on the back of his promises to cut the corporate tax rate and make other changes that would help the economy.

But many of his stances could also prove to be disruptive. Building a wall between the U.S. and Mexico — a promise Trump built his divisive campaign on — would cost billions and the move to follow through on that promise signals changes to immigration polices that could drastically change the economy for better or worse.

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