Trump touts Dow hitting 30K, congratulates administration staffers in brief appearance
President Donald Trump outs Dow hitting 30K, congratulates administration staffers at a press conference.
President Trump gave a roughly one-minute news briefing Tuesday afternoon, touting the Dow Jones Industrial Average topping 30,000 and offering congratulations to his administration staffers.
“I’m very thrilled with what's happened on the vaccine front, that's been absolutely incredible. Nothing like that has ever happened medically, and I think people are acknowledging that,” Trump began, after announcing the briefing only moments before.
“It's having a big effect. The stock market's just broken 30,000, never been broken, that number. That's a sacred number, 30,000, and nobody thought they'd ever see it.”
The president noted it was the ninth time since the beginning of 2020 the market had broken records and the 48th time under his presidency.
“I just want to congratulate all the people within the administration who work so hard, mostly I want to congratulate the people of this country,” he said.
President Trump speaks in the press briefing room as Vice President Mike Pence listens Tuesday, Nov. 24, 2020, in Washington. (AP Photo/Susan Walsh)
Vaccine optimism, combined with another solid read on U.S. home prices, drove a broad market rally led by Dow members General Electric, Bank of America and Boeing.
The rally was also supported by the likelihood that President-elect Joe Biden will formally appoint former Federal Reserve Chair Janet Yellen as his Treasury secretary.
Looking at stocks, those tied to the reopening of the economy continued to gain momentum after AstraZeneca on Monday became the third company to announce positive news regarding its COVID-19 vaccine.
Shortly before the press briefing, Pennsylvania followed Michigan in certifying its election results for Biden and Vice President-elect Kamala Harris. Nevada also certified on Tuesday.
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The certification comes as President Trump’s campaign is appealing a federal judge’s dismissal of his campaign’s effort to block the certification of votes in Pennsylvania, but Trump made no mention of his legal pursuits.
FOX Business' Jonathan Garber contributed to this report.
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