There is no denying the economic boom this country has realized under the guidance of Donald Trump.
While doubters continue to wait for the bottom to fall out, the stock market is on pace to have its best June since 1955 and the best overall since 1938.
For the month of June, the S&P 500 has gained 7.3 percent so far.
That improvement is the best the market has seen during that specific period since 1955.
If the gains continue and the market can eclipse a 7.8 percent gain, it will be the best June on record since 1938.
Why the Continued Boom?
There is one word to describe the current market condition… hopeful.
With the G20 Summit right around the corner, investors are “hopeful” trade conditions will dramatically improve very soon.
President Trump and President Xi are expected to meet during the summit. Investors are hoping the two of them can come to some sort of agreement and formalize a trade deal between China and the United States.
By jumping into the market now, they stand to gain maximum profits for their wishful thinking.
The market also got a nice shot in the arm last week when Trump agreed to halt his planned escalation of tariffs against Mexico. Had he not done that, there would have been a sliding scale of tariffs that would have gone as high as 25 percent on all imported goods from Mexico.
By all signs, the market will continue this upward trend for the foreseeable future unless a major event occurs that put the brakes on.
No doubt, all eyes continue to watch the situation in Iran, as any conflict with Iran will also probably draw in both Russian and China. For now, though, American investors and the President continue to enjoy this virtually unprecedented boom in the market.