New York City, NY – Surging yet again on the coming implementation of the largest tax cuts and reform in the last thirty years, the Dow Jones Industrial Average broke yet another historic high today, the 71st record broken during the Trump administration.
With the record broken just two trading days away from the new year, economic prospects are looking good for the coming year. This year seems to be on path to mark a full twelve months of positive New York Stock Exchange growth. With consumer confidence at all time highs, taxes about to be slashed, and economic growth roaring back it is clear that the so called “Trump Effect” is not showing any signs of slowing down anytime soon.
In fact, it would seem that with tax reform passed, economic growth, usually measured by GDP may reach the long sought after 5% figure. GDP growth for all three of the four reported quarters of 2017 as been at or above 3%, which was unheard of during the Obama administration.
US unemployment rates also continue to fall, recently hitting a 17 year low as more and more Americans are able to return to the workforce thanks to increased consumer confidence and the slashing to burdensome regulations.
News of the passage of tax reform also sparked various companies across industries to promise invest more than $50 billion in new US jobs before the bill was even signed into law by President Trump.