Wall Street closed out the week up again Friday. The Dow ended in record territory once again, the 24th time this year that the index closed in record territory at 12,637.74. “It’s very, very resilient,” says Dallas financial strategist Clark Hodges. “Just in a normal news cycle, you’d say ‘It has been a great market,” but I’d say 90% of the news in regards to the new administration has been negative, and I just can’t imagine a stronger market under those circumstances.”
The market is up 11% since the inauguration.
Clarks says for the past eight years business leaders have faced a hostile White House. “Trump has come in and rolled back regulations and done a lot of things that people say, ‘wow, this is a positive business environment’, and that’s really why I think the market is acting so well,” he tells KTRH News.
The Dow has closed at record highs forty times since inauguration day, and is up 17% since election day in November.