The numbers are in, and they show what we have come to expect: an American economy that continues to thrive under President Donald Trump.
Key indicators of such economic success, including the Dow Jones Industrial Average (DJIA), the S&P 500, and the Nasdaq all finished with record-breaking numbers for the month of June.
An historic month
On Friday, the final trading day for June, the Dow Jones Industrial Average closed at just under 26,600. This means the month saw a gain of over 73 points, which represents a 7% rally.
Such impressive numbers for the Dow have not been seen since before World War II. The best June for the Dow, which began in 1896, occurred 81 years ago, in 1938, when represented a 24.3% surge.
Friday itself, however, was nothing spectacular, with only moderate gains. But the month overall was indeed historic.
The Dow wasn’t alone in demonstrating the hearty health of the economy, with the the S&P 500 adding to the good news.
For the month of June, the S&P 500 achieved 6.2% gain. Like the Dow, this number is significant in that it makes 2019 the best June on record since 1955. Not only that, but in the first half of 2019, the S&P 500 has shown the most substantial increase — 17% — since the first half of 1997.
Finally, the Nasdaq went up 7.5% in June — the strongest monthly showing since 2000.
The indexes clearly show that the economy is doing well. Great! But, what is behind these numbers, what is the driving force?
According to Stephen Guilfoyle, president of trading firm Sarge986 LLC, “Drivers [of the rally] would be a change in the perceived trajectory for monetary policy, coupled with a bit of optimism in renewed negotiations with China.”
Other commentators, like Turning Point USA’s Charlie Kirk, cited the Trump-Mexico immigration deal as an important contributor. “Donald Trump’s June,” he tweeted:
Donald Trump’s June:
Border crossings are down 25% thanks to Trump-Mexico immigration deal
The DOW is on track for its best June since 1938
Historic 2020 campaign launched, raises more than DNC has on hand in one night
What have Democrats accomplished this month?
— Charlie Kirk (@charliekirk11) June 28, 2019
Whatever the reason might be, under the Trump administration, we can feel confident in expecting more of the same.