The Wall Street Journal reported that the White House confirmed on the same day that President Trump had decided to withdraw the plan to cancel the governments drug tax rebate. This news stimulated the stock of medical companies to rise sharply and became an important driving force for the Dow to cross the 27,000-point barrier on the same day. The report also pointed out that the Federal Reserve Chairman Powell this week sent a signal to cut interest rates, which is also a factor in raising stock prices.
Not everyone is so optimistic. According to a recent survey by the American Association of Individual Investors, less than 30% of individual investors believe that the stock market will keep rising in the next six months, USA Today reported. The New York Times pointed out that despite recent satisfactory economic data in the United States, job growth has slowed down and consumer confidence has not increased further. At present, the pending US-China trade issue, the slowdown of global economic growth and the tense situation in Iran are all factors that may lead to a recession in the United States.
New York stock market has two other major indices: the Standard & Poors 500 Index and the Nasdaq Composite Index closed at 2999.91 and 8196.04 on the same day, respectively. The S&P 500 index rose 0.23% and the Nasdaq index fell 0.08%.