Trump congratulates administration, public for Dow Jones' historic feat
Nov 25, 2020
Washington [US], November 25 : US President Donald Trump on Tuesday (local time) made an appearance in the White House briefing room to congratulate his administration and the public for the Dow Jones Industrial Average index crossing a historic 30,000 point level for the first time and for the development on the coronavirus vaccine front.
He left the room after addressing the reporters without entertaining any questions from them.
According to
, the President's briefing came after he tweeted his approval of his government beginning the transition process for President-elect Joe Biden which "many observers saw as the closest he is likely to come to conceding defeat."
"I am thrilled with what has happened on the vaccine front; that has been absolutely incredible. Nothing like that has happened before. People are starting to acknowledge this," Trump said at the briefing.
About the stock market, he said it never broke the 30,000-number mark. "That's a sacred number, 30,000. Nobody thought that they would ever see it."
Trump later said that it was the ninth time since the beginning of this year and 48 times during his tenure "that we have broken records".
"I just want to congratulate all the people within the administration who work so hard, and most importantly I want to congratulate the people of our country because there are no people like you," he added.
According to a report by Nikkei Asia, the Dow has gained more than 60 per cent since hitting its low for the year in March.
The Dow was up 1.4 per cent at 30,012 points on the New York Stock Exchange at 11.41 am. The S&P 500, a barometer for the top 500 US stocks on the New York Stock Exchange, also rose 1.4 per cent to 3,628, as reported by
.
The Nasdaq Composite Index, which counts on the performance of the US techs stock giants such as Facebook, Apple, Amazon, Netflix and Google, rose almost 1 per cent to 11,992.
On Monday (local time), Trump said that he recommended the General Services Administration (GSA) head Emily Murphy and her team to follow initial protocol with regard to his rival Joe Biden's transition, adding that he would "keep up the fight" against the alleged voter fraud in the Presidential elections.
Biden is being projected as the winner of the Presidential elections by various media outlets in the US ever since he clinched the state of Pennsylvania to take him past the required 270 electoral college vote mark.
