(CNN) President Donald Trump been buoyed by two days of market boosts and made an enthusiastic round of phone calls to advisers from Air Force One on his way back from Iraq after markets closed sharply higher Wednesday, people familiar with the matter say.

Trump has closely monitored Wall Street and uses the Dow Jones Industrial Average as a personal barometer of his political standing, sources have told CNN. In his phone calls Wednesday night from his plane, the President repeated that he believes the economy is doing great.

The Dow rose 1,000 points for the first time on Wednesday. The S&P 500 and the NASDAQ were also up. The gains came after steep market losses before Christmas, including the worst Christmas Eve ever for Wall Street.

On Thursday, equities again rebounded after heavy losses for most of the trading day. The Dow rose 260 points, or 1.14%; the NASDAQ closed narrowly higher, up 0.4%; and the S&P 500 was up 0.8%.

Those gains won't erase what has been a dismal December for Wall Street. The three major indexes are all on track to end the month steeply lower. The market has been gripped by volatility, with investors concerned about a slowing global economy, trade policy and recent moves by the Federal Reserve.

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