You Shall Not Pass! Dow Surges to New High This Week as Stocks Refuse to Fall
February 17, 2017 at 18:51 PM EST
The major indexes rose to new highs this week as investors ignored the chaos in Washington and refused to let the market fall. The S&P 500 rose 1.5% this week after advancing 0.2% to 2,351.16 today, while the Dow Jones Industrial Average gained 1.7% this week after ticking up 4.28 points to 20,624.05. The Nasdaq Composite climbed 1.8% this week after today. There were all sorts of reasons for the market to drop this week: Fed chief Janet Yellen was more hawkish than expected when she testified to Congress this week, while President Donald J. Trump was busy defending himself , rather than proposing business friendly legislation. But the market refused to take a loss for an answer. Today, for instance, the Dow had been down as much as 87.16 points, before rallying back, while the blue chip benchmark rallied back from a 55.03 decline. In fact, that's been the pattern all year in the S&P 500, explains the folks at Bespoke Investment Group :