Welcome! While I am sure you’re more than familiar with Everything’s Magnificent, you and I are total strangers. Let’s fix that!
I’m Ro. Born and raised in Chicago, I am a freelance journalist residing in Los Angeles, CA. As a journalist, I’m have a deep love and appreciation for all things news, but with the current state of the world not many people share this passion of mine and I want to change that!
Word on the street is news seems to be too depressing to bare most days and I can agree. That is why every Tuesday I will be here to brighten up your day with ONLY good news! So please be sure to join me here every Tuesday for the latest on Good News Tuesday’s.
Don’t forget to let me know your thoughts in the comment section! This is just as much your space as it is mine.
Good News Tuesday’s are starting…… NOW!
Wall street pros are shouting “It’s alive!” as the Dow rises over 23,000 for the first time in history!
Starting at just 18,333 points on Election Day, brokers woke up to the market monster up just over 23,000 points this morning. According to Wall Street pros, this means the global economy is rebounding in several corners of the world at the same time, a financial rarity. Wall Street is reacting to a “synchronized global recovery,” Quincy Krosby, chief market strategist at Prudential Financial, told USAToday. It also suggests an extension in the already eight year Bull market rally.
Why is the Dow rising?
The continuously rising gains this year can be attributed to a few factors. Analysts are saying Trump’s win in November is among the top of those, with a 23 percent increase since then. While some companies have more to gain from what broker’s are calling the “Trump Trade,” robust profits at big companies, low interest rates and a rare alignment of developed economies in good or improving health at the same time are also among the top reasons for the Dow’s record-breaking high.
What does this means for the average American?
Things are getting better. The Dow and other stock markets at all-time highs is something to take note of. When the Dow hit 20,000 late last January, it showed the private sector added an impressive 15.6 million jobs over 81 months, and by November the unemployment rate hit 4.6 percent for the first time since August 2007.
While many were concerned after the Federal Reserve raised interest rates last December, there may have been nothing to fear. According to Chair Janet Yellen, the hike was “a reflection of the confidence we have in the progress the economy has made and our judgment that progress will continue … the economy has proven to be remarkably resilient.”
Proceed with caution!
There are plenty of events that could bring this rally to a halt: North Korea, the Federal Reserve being too aggressive, Venezuela’s meltdown, and a few others. As the Dow continues to rise it is expected to hit 24,000 by Christmas. It looks like Yellen was right.