Guest post by Joe Hoft
President Trump incurs another economic miracle – the S&P 500 reached its best week ever last week!
Shhh- don’t tell anyone but last week was the best week for the S&P 500 in history!
Barron’s notes that –
The S&P 500 rose 4.8%, to 2760.16, last week, while the Dow Jones Industrial Average gained 1252.51 points, or 5.2%, to 25,538.46, and the Nasdaq Composite jumped 5.6%, to 7330.54.
It was the best week for both the S&P 500 and the Nasdaq since Dec. 2, 2011.
This is true, but what Barron’s and no other publication notes, is that last week was the best week in S&P 500 history!
The S&P 500 rose 127.61 points last week – the most it has ever increased in a week. On Friday November 23rd the S&P 500 closed at 2,632. On Friday November 30th, the S&P 500 closed out the month of November at 2,760. This is the largest point increase in a week ever.
The old record for the largest increase for a week was quietly set on February 16th of this year when the S&P 500 increased by 112.67. The only other time the S&P 500 increased by more than 100 points in a week was the week ending on April 20, 2001.
President Trump has reached numerous economic records to date. His work is clearly moving this great country in the right direction.