There’s always a fuss when the Dow reaches a nice, new, big, round number, as it did on Wednesday (Jan 25).

The excitement is almost always overblown — the market is more than the Dow Jones Industrial Average, the economy is more than the market, etc. — and this particular milestone comes with the potential for additional misinterpretation: Dow 20,000 does not necessarily amount to a vote of confidence in President Donald Trump’s ability to deliver economic growth.

Source: Dow 20,000 Is No Vote of Confidence – Bloomberg View

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