Finance 0

Dow Jones News: Dow Surges 232 Points As Wall Street Cheers President Trump’s Tax Reform Push

By Kurt Osterberg · On April 25, 2017

The Dow rallied over 200 points thanks to increased optimism President Donald Trump will be able to push pro-growth economic policies through Congress in 2017.

Let’s look at the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

Closing Bell April 25, 2017 Trading Point Gain/Loss Percentage Gain/Loss Dow Jones 20,996.12 + 232.23 + 1.12% S&P 500 2,388.61 + 14.46 + 0.61% Nasdaq 6,025.49 + 41.67 + 0.70%

3 Stock Market Stories to Watch

Shares of Goldman Sachs Group Inc. (NYSE: GS) climbed 1.5% as markets grow more optimistic over tax reform.

Shares of McDonald’s Corp. (NYSE: MCD) climbed more than 5% as same-store sales climbed.

Oil prices ticked higher for the first time in more than a week. Markets are expecting a decline in U.S. inventory levels after a massive buildup in the first quarter.

Now, here’s a look at today’s most important market events and stocks, plus a preview of Wednesday’s economic calendar.

DJIA Today: Dow Rallies as Markets Expect Corporate Tax Reform in 2017

The Nasdaq surpassed the 6,000-point threshold for the first time in history thanks to strong gains by tech giants Apple Inc. (Nasdaq: AAPL) and Microsoft Corp. (Nasdaq: MSFT) and biotech giant Biogen Inc. (Nasdaq: BIIB).

Markets are also optimistic after Sunday’s first round of the French presidential election. Polls indicate that centrist candidate Emmanuel Macron has a very large lead against his rival, Marine Le Pen. Markets are cheering the fact that Macron is pro-bailout and may press German Chancellor Angela Merkel to loosen the purse strings for Italy and Greece. While that is bad news for capitalism, another big bailout would provide a big wave of capital to the European markets.

Gold prices and silver prices fell as investors turned away from safe-haven assets and piled back into the equity markets. The downturn in prices compounded problems for Barrick Gold Corp. (NYSE: ABX). The gold producer slashed its output expectations and reported that operations were weaker than analysts had anticipated.

Crude oil prices snapped a six-session losing streak ahead of a key report in U.S. inventories by the American Petroleum Institute. Oil prices have been sagging in recent days due to rising concerns that OPEC may not extend its deal to help cap a global supply glut. Tomorrow, investors will keep a close eye on the official inventory report from the U.S. Energy Information Administration.

The WTI crude oil price today added 1.14%, while Brent crude gained 1.45%.

But the big story is the possibility of a government shutdown later this week. Currently, markets are trying to determine whether Republicans and Democrats will be able to reach a deal without funding a border wall between the United States and Mexico.