President Donald Trump addressed Congress for the first time to issue a call for immigration reform, strongly condemning illegal immigration and calling for a wall between the United States and Mexico, yet also saying he would be open to laws that made legalization easier for immigrants. Trump spoke strongly against Obamacare as well, saying he wanted “reforms that expand choice, increase access, lower costs, and at the same time, provide better healthcare” instead.
The Dow Jones industrial average closed above 21,000 Wednesday, a new record high that comes after President Donald Trump's first speech to Congress, CNBC reported.
The Dow leapt up more than 200 points, trading up about 1 percent. It's been just over a month since the index broke the 20,000-point mark. The S&P 500 and Nasdaq were up about 0.85 percent soon after the market opened.
Trump's speech was praised for its positive tone but he didn't give many specifics about tax reform and deregulation, two key components of the market's post-election rally.
Quincy Krosby, market strategist at Prudential Financial, told CNBC the speech's tone "has gone a long way for the market" as it "assuaged fears that his agenda was not going to be able to be passed."
