DOW 21,000: The Trump rally continues

Record-tying run for Trump-fueled Dow

Dow 20,000, we hardly knew ye. The Dow Jones industrial average surpassed the 21,000 mark Wednesday for the first time ever — just 24 trading days after the blue-chip bellwether blew past 20,000 on optimism about President Trump’s economic agenda.

The index gained 303 points on Wednesday, ending at 21,115, marking a new record close.

Wednesday’s rally was largely attributed to higher chances of an interest rate hike this month, as well as President Trump’s measured tone during his speech to a joint session of Congress — where he championed “massive” tax relief, a $1 trillion effort on infrastructure and an ObamaCare overhaul.

“The delivery was exceptional — it was confident,” Quincy Krosby, market strategist for Prudential Financial, told The Post, referring to Trump’s pro-growth, pro-business speech on Tuesday night.

Wall Street and Washington confidence may also be finding its way into US households.

“Confidence in the economy does a lot [for consumers],” Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, told The Post.

“If [consumers] feel like things are going well, they will spend,” Silverblatt said.

While business sentiment tends to rise first, with consumer sentiment following behind, the two have a symbiotic relationship.

“Companies aren’t going to build 100 widgets if they can only sell 90,” Silverblatt said.

And both investors and households have reasons to feel confident.

Excluding Wednesday’s gains, nearly $3.7 trillion has been added to the global market since the election, according to S&P Dow Jones Indices.

The markets were also boosted by comments on Tuesday from a handful of Federal Reserve officials, including the influential New York Fed President William Dudley, who said the case for tightening monetary policy had become “a lot more compelling.”

The quick journey from 20,000 to 21,000 is tied in first place for being the fastest 1,000-point jump for the index. It also took the Dow exactly 24 trading days to move from 10,000 to 11,000 in 1999.

The Dow hit 20,000 on Jan. 25, taking only 42 trading days to make the jump between 19,000 and 20,000. Since the election, the index has climbed 15 percent.