Markets soared to record highs this week as Trump’s post-election market surge continues into the final month of 2017. The Dow (DJI) hit a record milestone of 24,000 during Thursday’s action by gaining nearly 300 points in the morning alone. The Dow has now skyrocketed nearly 6,000 points since Trump’s election, rising from 18,250 to the current 24,000 milestone. The Nasdaq and S&P 500 have also increased more than 30% and 20% respectively since election day.
But all of that could be erased with the news of Michael Flynn.
Flynn joins the likes of former Trump campaign manager Paul Manafort, businessman Rick Gates, and former White House aide George Papadopoulos, who have all been indicted as part of the investigation. His plea could prove to be much more damaging to Trump than previous indictments, as Trump had earlier tried to convince former FBI Director James Comey to drop his investigation into Flynn, before firing Comey.
And now what you’re all really here for: how is bitcoin doing?The leader of the cryptocurrency craze surpassed $10,000 on Wednesday before shortly reaching $11,000 right after. The digital currency dropped heavily following the record milestones but settled down around $10,500 to end the week. At this value, if you had invested $100 in Bitcoin 7 years ago, you would’ve made over $140 million. Talk about investing smarter.
Brexit negotiations made some progress this week as an outline deal regarding the UK’s eventual exit from the European Union was reached. The two sides continue to negotiate over the question of the Irish border regulations as this has slowly become the toughest obstacle to maneuver in the Brexit discussions. The pound rallied to its highest level in two months following the news of the deal being reached.