Quadruple record in Wall Street after 17 years

Four most closely watched indices at Wall Street; S&P 500, Dow Jones Industrial Average, Nasdaq, and Russell 2000, all reached new record highs and closed at new record highs for first time since 1999. While the phenomenon is not an uncommon one according to history but occurrence after such a long time is very special. Since 1984, there have been 87 instances for such quadruple according to the data from Bloomberg; however the very last time it occurred was back in 1999, when it happened twice that year. Among the quadruple, Russell 2000 is the top performer this year with 16 percent gains, followed by Down (9 percent), S&P 500 (7.5 percent), and Nasdaq (7.2 percent).

After initial jitter, the equity markets in the United States woke up strongly to the various possibilities of a Trump presidency, one of which is the tax proposals. According to the investment bank Goldman Sachs Trump’s proposal to cut corporate taxes would increase earnings per share massively and push S&P 500 towards 2500 by end of 2018. We expect Donald Trump’s other policies of increased infrastructure spending, removal of excessive regulations, removal of Dodd Frank, unleashing the potential of US energy would immensely benefit the stock markets.