Dow Posts Best June Since 1938 =LINK=
The rally, which continued on the final trading day of the month, gave the Dow Jones Industrial Average a 7.2 percent jump, the best since 1938, the S&P 500 added 6.9 percent, the strongest June since 1955 and the Nasdaq 7.4-percent - its best showing since 2000 as tracked by the Dow Jones Market Data Group.
Dow posts best June since 1938
Those gains made this first half of the year the best since '97 for the S&P 500 with a gain of 17 percent, and best for the Dow since '99 up 14 percent and the Nasdaq's 20 percent rise was the strongest since 2003.
Between the bankruptcy of Lehman Brothers on September 15, 2008, and the end of 2008, the index closed either up or down 3% in one day 29 times. On October 13, 2008, the index closed up 11.6%, its best single-day percentage gain since being founded in 1957.
The index rose sharply in January 2018, extending one of its longest monthly winning streaks, only to fall 4% in February 2018 during a month of extremely high volatility, including a day in which the VIX doubled. It was the first monthly decline in 11 months. In the third quarter of 2018, the index posted its best quarter since 2013. However, the index fell 11% in the month of December 2018, its worst December performance since the Great Depression. The index fell 6% in 2018, its worst year in a decade.
However, in 2019, the index posted its best first half in 22 years including the best June since 1938. On July 10, 2019, the index reached 3,000 for the first time. The index rose 31.5% in 2019, one of its best years.
The S&P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression. From the start of 2019, after investors fled equities amid fears of a global economic slowdown, which sent stock markets tumbling in December, the benchmark S&P 500 jumped 17.3%, its largest first-half increase since 1997.
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The recession ended after the Fed rolled back reserve requirements, the Treasury stopped sterilizing gold inflows and desterilized all remaining gold that had been sterilized since December 1936, and the Roosevelt administration began pursuing expansionary fiscal policies. The recovery from 1938 to 1942 was spectacular: Output grew by 49 percent, fueled by gold inflows from Europe and a major defense buildup.
Month ago, in mid-July, the stock-market started to go through the roof. Topped off by four million-share days, the Dow-Jones average hopped ten points (to 144.71) from July n to July 21. It seemed almost within reach of its 1939 high (154-85) and its 1938 high (158.41). Last week stock which was sold at the July peak could be bought back for ten points less. Those who profited by this turn of events were chiefly professional traders. SEC has since reported that at the peak, in the last half of July, while the... To continue reading: responsiveAd(className: "subscribe-link",ads: [type: "desktop",size: "142x70",cm: position: "subscribebtn", type: "text",type: "tablet",size: "142x70",cm: position: "subscribebtn", type: "text",// Mobile 300type: "mobile",size: "142x70",config: zone: "219200",site: "28275",size_x: "142", size_y: "70",type: "-1"]); or Log-In