Following the impressive victory of President-elect Donald Trump over Vice President Kamala Harris, the stock market just recorded its best month of 2024. And that should tell you all you need to know about why it is a glorious thing for the United States that Trump won. Already our economy is beginning to heal. Small steps, of course, but moving in the right direction.
A report from The Wall Street Journal discussed Trump’s victory and how it led to the current market rally we’re seeing, as investors are starting to feel bullish about the financial prospects of the nation’s economy:
U.S. stocks were on track to end November with their biggest monthly gains this year, as chip stocks rallied on Friday. Major indexes advanced in midday trading, with the S&P 500 on pace for a fresh record. The Dow Jones Industrial Average was on track to deliver its biggest monthly percentage gain since late 2023, according to Dow Jones Market Data.
The S&P 500 was also narrowly on course to register its best month of 2024. The small-cap Russell 2000 climbed, lifting its monthly gains above 11%. Donald Trump’s U.S. election victory this month ignited a market rally as investors bet proposed tax cuts and deregulation would bolster corporate profits. His pledges to impose tariffs on key trading partners have been largely brushed off by equity traders, though some areas such as auto stocks have taken a hit.
“While stock market gains don’t necessarily result in the enrichment of ordinary Americans, they do point to a sense of confidence among investors about the prospects for economic growth under the Trump administration,” The Gateway Pundit explained. “Immediately after Trump was declared the winner of the 2024 presidential election, the stock market posted its best day since 2022.”
Along with the market rally, the U.S. dollar experienced its biggest one-day rise since 2020, while bond yields also increased.
Keep in mind that even with Joe Biden serving as president, the stock market has done fairly well. However practically every other part of his economic agenda has left our economy decimated, especially for working class Americans. The biggest issue for average folk has been that of inflation. The spike in inflation led to a massive increase in prices for housing, transportation, and groceries.
Perhaps most significantly, the country has seen its Misery Index rise significantly during the Biden years.
“Back in 2019, when Donald Trump was in the White House, the U.S. Misery Index was at its lowest point in over 60 years, dating back to the presidency of Dwight D. Eisenhower. Most analysts agree that this was the most important factor in Trump’s stunning election victory,” the report said.
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