WASHINGTON — As the Trump administration and its allies continue to pursue regulatory changes that threaten to cripple the U, the Dow Jones Industrial Average has soared more than 2,000 points, setting a record for gains this year.

Trump’s trade war with China, his withdrawal from the Paris climate accord and the U-turn on immigration policies have put a damper on the Dow’s gains.

But investors still expect the Dow to climb more than 10,000, or 5 percent, in 2017.

The index is still likely to rise as the Dow grows in a more predictable direction.

Dow is up about 12 percent so far this year, the second-highest year-over-year increase for any U.K. index, according to FactSet.

The S&P 500 is up by a bit more than 1 percent.

“The Dow is still a fairly stable stock and there is no reason to think that it will decline in value,” said Brian Bixby, chief investment strategist at Bixson Capital Markets.

“It’s probably the most important index in the world, and there are a lot of people who value it that way.”

The S&amps rise has been fueled by expectations of a stronger dollar, higher U.N. and other economic indicators and a stronger stock market.

Investors are also watching for a move to the greenback from the Trump trade war, which could spark a surge in foreign demand for U.s. assets.

Trump has vowed to renegotiate trade agreements with China and withdraw from the accord to force Beijing to improve its currency policy.

His administration has been actively pursuing a policy of “no new tariffs, no new taxes,” which would impose new tariffs on Chinese goods and imports.

The U.n. has warned against any such moves.

But analysts say the Us. will continue to benefit from lower import prices for U-dollars, as Chinese demand will continue growing, especially in emerging markets.

The dollar will remain a strong currency.

“It is going to be an upward trajectory, but it will be a gradual climb,” said Paul Wiedefeld, managing director at BMO Capital Markets who has long been bullish on the U stock market.

“The dollar is still one of the best performing currencies globally, but the question is will the dollar remain a good currency for U companies?

Will that translate into higher returns?” he added.

While the Dow has rallied, the S&ams rise has also been driven by expectations that the U economy will grow faster than expected in 2017 and beyond.

The government’s economic data is expected to be released later this month.

Economists are watching the economic data closely and are betting that a stronger economy is likely to lead to more economic activity, and that this is likely a trend that will persist into the new year.