The Obama – Yellen Federal Reserve raised interest rates today and as a result halted the DOW’s 7 day win streak. In an effort to steal Trump’s thunder, Obama and Fed Chairman Yellon upped interest rates today for only the second time in the last 10 years. The Fed also hinted at future increases in 2017.
The Trump Stock Market Rally since the election is of historical proportions. What we have seen since President-Elect Donald Trump won the election on November 8th, has never occurred before.
Out of 25 days since the election, the Dow has reached all time closing highs 16 of these days!
On another five of these days the Dow landed at its second highest close ever up to that date!
For nearly a third of the closings since the election, the Dow has reached new highs. For more than 84% of the closing bells the Dow has either reached a new high or its second highest closing to date. For only four days (including today) since the election, the Dow has not reached one of these two milestones. The DOW has increased more than 6% during this time.
This Trump Rally is Historical!
We downloaded all daily closing amounts of the Dow Jones Industrial Average since January 5th of 1905 – more than 110 years of daily Dow closing data to compare the ‘Trump Rally’ to other rallies in the history of the Dow.
From an updated analysis of this data, there are only 9 times in the history of the Dow where the Dow set new closing highs for 16 days or more in a 25 day period.
The DOW has never in its history reached the number of closing bell highs after an election. (The rally in 1928 started in October before the election.) Under Obama new Dow Jones daily closing highs were sparse. The last high before the November 8th election was in August. This is why the ‘Trump Rally’ is such an anomaly and so exciting.
It looks like even Obama and Yellen are tired of Trump winning.