Investing.com - U.S. stock markets looked set to rise again on Thursday, with the Dow plowing further above the 20,000-level amid optimism over President Donald Trump’s pro-growth policies.
Trump signed two executive orders earlier this week to move forward with construction of the controversial Keystone XL and Dakota Access oil pipelines, rolling back key Obama administration environmental actions in favor of expanding energy infrastructure.
He also signed orders rolling back some regulation and environmental rules in order to expedite approval of infrastructure projects.
Trump has been credited with being a major catalyst behind the Dow's impressive 10% rally since election day, with some dubbing it the "Trump Jump", as investors welcomed his promises of tax reform, infrastructure spending and deregulation.
However, recent gains have led to speculation of a near-term reversal with some fund manager likening the current stock market euphoria to the dotcom bubble, which reached a peak on the last day of 1999 and then burst dramatically.
The question remains, who or what will be the cause of the reversal.
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