Breaking: Dow Closes Out Its Best June in 80 Years
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.
#MarketWrap Major indexes close higher on final trading day of June.
DOW +0.27%, NASDAQ +0.48%, S&P 500 +0.56%
— Greta Wall (@GretaLWall) June 28, 2019
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.
FINAL HOUR OF THE DAY!
– The Dow is on pace for its best first half of the year since 1999
– The S&P 500 is having its best first half since 1997
– The Nasdaq is on track for its best first half since 2003 pic.twitter.com/ABdQbCVzxH— CNBC’s Closing Bell (@CNBCClosingBell) June 28, 2019
#MORE Wall Street logs best June in decades.
DOW +7.2% in June — best since June 1938
NASDAQ +7.4% in June — best since June 2000
S&P 500 +6.9% in June — best since June 1955
— Greta Wall (@GretaLWall) June 28, 2019
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.
Donald Trump’s June:
Border crossings are down 25% thanks to Trump-Mexico immigration deal
The DOW is on track for its best June since 1938
Historic 2020 campaign launched, raises more than DNC has on hand in one night
What have Democrats accomplished this month?
?
— Charlie Kirk (@charliekirk11) June 28, 2019
“What have Democrats accomplished this month?” he asked.
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