The Dow Jones Industrial Average achieved yet another milestone Wednesday, hitting 22,000 for the first time in history.
Despite falling back a bit from that high, the Dow is up 20 percent since President Donald Trump’s election.
The rally will likely continue, too. Drexel Hamilton analyst Brian White said he expects more to come.
“[W]e believe investors will now feel more confident in owning the stock for the upcoming iPhone 8 cycle that is expected to begin this fall, while also benefitting from the company’s capital distribution initiative, attractive valuation and potential new innovations,” White told CNBC.
“We’ve come a long way in a very short period of time,” Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management, told CNBC. “I think people are now focusing on the macro news, especially on the jobs report.”
The strong economic reports come on the heels of some of the lowest unemploymentfigures in decades.
At the time, officials noted that claims for state unemployment benefits dropped by 3,000 for the week that ended July 8.
Black unemployment is also at its lowest level in 17 years, according to reports.