Guest post by Joe Hoft
The S&P 500 and the Nasdaq Composite reached new all-time highs yesterday at the closing bell. Since the 2016 Election, the DOW is up 45%!
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CNBC reported yesterday –
The S&P 500 and Nasdaq Composite rallied on Tuesday to notch record closing highs as Wall Street cheered stronger-than-expected quarterly profits from some of the largest publicly traded U.S. companies.
The broad index closed 0.9% higher at 2,933.68, topping its previous record close of 2,930.75. The S&P 500 also ended the day just below its intraday record of 2,940.91. The Nasdaq closed up 1.3% at 8,120.82. The Dow Jones Industrial Average, meanwhile, gained 145.34 points to close at 26,656.39 and was 1.1% from an all-time high.
Tuesday’s move toward an all-time closing high comes less than six months after a sharp decline in late December, which led the S&P 500 to its worst annual performance since 2008. But stocks quickly turned around as the Federal Reserve reversed course on monetary policy while the tone around U.S.-China trade talks improved.
Since the 2016 Election, the DOW is up more than 45%!
On election day 2016 (November 8th) the DOW closed at 18,332. Yesterday the DOW closed at 26,656 – up more than 45% since the 2016 election. The DOW is up 8,324 points since the 2016 election!
In the “old days” if you were President and you had a good economy, you were basically immune from criticism. Remember, “It’s the economy stupid.” Today I have, as President, perhaps the greatest economy in history…and to the Mainstream Media, it means NOTHING. But it will!
— Donald J. Trump (@realDonaldTrump) April 23, 2019
Unemployment is at 50 year lows, wages are going up, corporate earnings are at all-time highs and expected to get higher and the markets are at all-time highs. Trump’s economy is roaring!