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Trump Touts Economy as Dow Tops 30,000 for First Time at Surprise Press Conference
Posted
November 24, 2020
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November 24, 2020
3,273
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1:52Now PlayingPresident Donald Trump made a surprise appearance in the White House briefing room Tuesday to hail the historic stock market rally.
The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday.
Speaking to reporters in a hastily called appearance, Trump said he wanted to "congratulate all the people within the administration that worked so hard. And most importantly, I want to congratulate the people of our country."
Trump noted that Tuesday's rally marked the 48th time that a stock market record has been broken during his time in office.
Economists said investors were encouraged by the latest progress on coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.
Traders were also encouraged by news that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary.
The Dow rose more than 400 points, or 1.4%, to trade just over 30,000 midday Tuesday.
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