President Trump is right again! The DOW in June broke a new record!
A week ago the President tweeted that June would be an historic month for the DOW –
Stock Market is heading for one of the best months (June) in the history of our Country. Thank you Mr. President!
— Donald J. Trump (@realDonaldTrump) June 25, 2019
President Trump was right (again)!
The DOW recorded its best June in 80 years – going up more than 7% for the month. MarketWatch reported –
U.S. stock benchmarks have mostly enjoyed a healthy run-up on the back of the Federal Reserve’s easier monetary-policy stance and hope for a China-U.S. trade pact.
Recent gains have helped the Dow Jones Industrial Average DJIA, +0.28% to ring up its best June gain of 7.2% since 1938 when the blue-chip benchmark surged an eye-popping 24.3% on the month, according to Dow Jones Market Data.
The S&P 500 index SPX, +0.58% notched its best June return, with a gain of about 6.9%, since 1955 when the broad-market benchmark rose 8.2%, while the Nasdaq Composite Index COMP, +0.48% was on track for a 6.9% return in June, which would represent its best June since a 16.6% gain back in 2000. The S&P 500 on June 20 notched its first record close since April 30, while the Dow is off less than 1% short of its Oct. 3 all-time closing peak.
Of course when measuring by points, the DOW has never increased this much in June in its more than 100 year history! (The S&P 500 also had it’s best June ever.)
The DOW closed on May 31st at 24,815 by the end of June the DOW closed at 26,599. This was an increase of 1,784 points and 7.2% in one month!