Dow Closed above 21000 after Trump Speech

U.S. stocks surged to all-time highs on Wednesday, with the Dow Jones Industrial Average closed above 21,000 for the first time, after U.S. President Donald Trump’s measured tone in his first speech to Congress lifted optimism. The Dow rose 303.31 points, or 1.46%, to 21,115.55. The S&P 500 gained 32.31 points, or 1.37%, to 2,395.96. The Nasdaq Composite added 78.59 points, or 1.35%, to 5,904.03.

Oil prices finished with a modest loss on Wednesday, as U.S. government data revealed an eighth weekly climb in a row for crude stockpiles that was actually smaller than the market expected. April West Texas Intermediate crude fell 18 cents, or 0.3%, to settle at $53.83 a barrel. May Brent crude fell 15 cents, or 0.3%, to end at $56.36 a barrel.

Shake Shack on Wednesday reported fourth-quarter earnings that were in line with expectations, but same-store sales that missed forecasts. Adjusted earnings per share came in at $0.09. Sales at stores open for at least two years increased by 1.6%. Total revenue was $73.3 million.