CT analyst reacts to record-setting day on Wall Street - WFSB 3 Connecticut

CT analyst reacts to record-setting day on Wall Street

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HARTFORD, CT (WFSB) -

It was a big day on Wall Street on Wednesday, and a record setting day, as the Dow closed above 20,000, which is the highest ever.

Analysts are attributing it to a series of executive orders signed by President Donald Trump.

The biggest winners from this are Boeing, Goldman Sachs and IBM.

Eric Hogarth, a chief financial planner at Johnson Brunetti, said it was a win for most stockholders, but that doesn't mean you should sell.

Their advice is still to diversify and be cautious.

"We warn people who think this market will go on forever. It's not that we are not happy, that it's doing what it’s doing, at the same time if you invest if you continue to think the market will go up, up, up,” Hogarth said.

United States stocks have rallied significantly following the presidential election.

Some on Wall Street believe Wednesday’s rally is largely propelled by prospects of lower corporate taxes and deregulation of certain sectors and more government spending.

Stocks doing the best banking are defense contractors and technology.

The average investor needs to reassess risk and be realistic about the market, which will eventually go down.

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