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Breaking: Dow Closes Week Setting New Record Not Seen in over 80 Years

By Joe Setyon June 29th, 2019 | Image Source: Trendolizer

The Dow Jones Industrial Average closed up more than 73 points Friday, putting a close to a successful June the likes of which had not been seen since prior to World War II.

The Dow closed at just under 26,600, according to CNBC.

While Friday’s individual gains were moderate, it was a historic month overall for the Dow.

As CNBC noted: The Dow “rallied 7% this month, notching its best June performance since 1938, when it surged 24.3%.”

The Dow wasn’t the only index that did well this month.

The S&P 500 was up roughly 6.2 percent this month, making it the index’s best June showing since 1955, according to Fox Business.

Overall, the S&P “posted its best first half of a year since 1997, soaring 17% and reaching an all-time high,” according to CNBC.

So what’s behind the market’s recent gains?

“Drivers [of the rally] would be a change in the perceived trajectory for monetary policy, coupled with a bit of optimism in renewed negotiations with China,” Stephen Guilfoyle, president of the trading firm Sarge986 LLC, told Fox Business.

At least one pundit gave the credit to President Donald Trump.

“Donald Trump’s June,” Turning Point USA’s Charlie Kirk wrote before the market closed.

“What have Democrats accomplished this month?” he asked.

Author: Joe Setyon

Source: Western Journal: Breaking: Dow Closes Week Setting New Record Not Seen in over 80 Years

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