TOLEDO, OH (WTOL) - The stock market spiked Wednesday, closing at a record high.
The Dow Jones rose above 21,000 points for the first time, up one and a half percent.
The reason for this?
Local financial advisers say it's President Trump.
With an unprecedented market, advisers say you could see a benefit.
While investments are gaining ground, you could see results in your 401K and the economy.
After the bell rang a record was set. The Dow Jones closed more than three hundred points up.
"I think what you're going to see is the 401K evaluations are going to be higher for the quarter for each month depending on how you get your statements and people will start feeling better about themselves as opposed to seven, eight years ago," said Alan Lancz, president of Alan B. Lancz and Associates.
Lancz believes the economy will grow from this too.
But why is the stock market seeing record setting highs over the past month and a half?
"Well it's not only President Trump and his more pro-business agenda, but really China and the PMI numbers this week were better than expected,"
explained Lancz. "Earnings have been good, the only areas that are really weak are the retailers and maybe some restaurants."
President Trump's joint congress address outlined his plans to cut corporate tax and deregulate, which is favorable for businesses and encouraging for investors.
But despite these positive gains in the stock market, financial advisers warn you to be cautious before hopping on the bandwagon because everything that goes up must go down.
"I think it's a situation where investors jumping in now might be getting in a little too late," said Alan Lancz, an investment adviser. "Just because the advance has been so great, but we expect that momentum to continue. We probably will have a sell off between now and summer or fall."
Experts say they aren't expecting a major decline in the market anytime soon, but investors should be warned that as values rise so does the risk.
In addition to the Dow Jones, the NASDAQ and Standard and Poor ended their day with record highs as well.