DOW SURPASSES 29,000 FOR THE FIRST TIME
The index hit the record earlier in the session following a moderate December jobs report, which found 145,000 new jobs created in 2019 and the unemployment rate staying unchanged at 3.5 percent, the lowest level in nearly 50 years.
The Dow then retreated and was down slightly as of late morning.
President Trump has frequently touted strong stocks as a sign of a booming economy, which he has made a central theme in his case for reelection. He has also cited the strong economy as an argument against impeachment.
The new high for the Dow comes even as economic growth is expected to continue moderating. The World Bank projected that the economy in 2020 would grow at just 1.8 percent, below the sustained 3 percent growth the Trump administration promised.
(Excerpt) Read more at thehill.com
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