Dow Jones Loses Third of Gains since 2017

On January 20th, 2017, the Dow Jones Industrial average hit yet another in a long series of price records of $19,827.25 on a trading volume of 423.26 million shares. Within just a few months, on May 17th, 2018, the DJI hit a new record of $20,606.9297 on trading volume of 423.20 million shares. On January 26th, 2018, days after Donald Trump bragged that the stock market’s success was indicative of how well his presidency was going, the DJI hit a record price of $26,616.7109 on 477.78 million shares.

The next day, the DJI began a long tumble before bottoming out at a price of $23,533.1992 on a volume of 482.55 million shares on March 23rd, 2018, and has since recouped some losses, and, as of yesterday, May 17th, 2018, the Dow Jones Industrial price closed down at $24713.98 on 314.65 million shares. At its peak, the DJI had gained 34.24% of its level since January 20th, 2017. As of yesterday, the DJI has only 24.64% of its gains since that date, representing a loss of roughly a third of its gains.

Looking forward, gas prices are climbing as the United States enters the summer driving season and oil prices are climbing as post Iran deal jitters combine with increased demand in the USA and Europe. Together, these two could further cramp upward momentum in the market, through the summer months. If any of the North Korea, Iran, or China tariff situations worsen, there is a strong possibility of stocks reversing years of gains.

 


Liberty is For The Win!

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