The Dow Jones industrial average closed on Wednesday at a record of just over 22,000 points.
It’s the third 1,000-point milestone the Dow has passed this year after hitting 20,000 in January and 21,000 in March.
A strong Dow is generally welcome news for people that have money invested in the stock market — but they only make up about 54 percent of the country, according to a Washington Post analysis.
That’s why many experts caution against equating a soaring Dow with a thriving economy.
John Jacobs, a contributor for The Hill, made that point in a recent opinion piece. “The Dow Jones Industrial Average is not the same as the stock market,” he wrote, “and the stock market is not the same thing as the economy.”
That didn’t temper President Donald Trump’s enthusiasm when he posted on Twitter on Tuesday in anticipation of 22,000…
Stock Market could hit all-time high (again) 22,000 today. Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!
— Donald J. Trump (@realDonaldTrump) August 1, 2017
… and again on Wednesday after 22,000 was hit.
Business is looking better than ever with business enthusiasm at record levels. Stock Market at an all-time high. That doesn’t just happen!
— Donald J. Trump (@realDonaldTrump) August 3, 2017