President Trump can now claim he has overseen the greatest economy in US history and the greatest recovery in US history.
The US markets have increased more in the past few months than any time in history. The increases are truly historic!
Yahoo Finance reported today:
The Dow Jones Industrial Average, despite the recent turmoil, has almost recovered all losses suffered during the coronavirus pandemic. The blue-chip index bounced back from the bear market territory in March and is now near its all-time high achieved on Feb 12, 2020.
Similarly, the S&P 500 had plummeted more than 30% within six weeks this spring, marking its fastest descend from record levels into a bear market. But the broader index has been on an uptrend, recording the fifth successive month of rally in August in more than 80 years.
What’s more, the S&P 500’s journey from a record high in February to a bear market in March, and then again to a new record, only took 126 trading days this year, the fastest-ever climb. To put things into perspective, if we go back to 1928, it took the index 1,500 trading sessions to return to record levels after slipping into the bear territory.
In addition, the US set a record for the most new jobs in a month in June. We reported on July 2nd:
Job numbers released today through the end of June were massive. There was an increase of nearly 5 Million jobs! And the unemployment rate dropped to 11.1%, more than 2 points lower than May’s 13.3%!
The markets are at a record pace and now jobs are coming back! This is great news after the horrendous economic disaster the China coronavirus placed on the economy. Before this, the United States and President Trump were enjoying the greatest economy in US and world history with the GDP at $23 trillion – more than any economy ever!