Despite trade tensions and new tariffs coming onto the scene affecting both imports and exports, The Dow Jones Industrial Average just hit a new all time record high. On Thursday September 20th, the Dow was up triple digits, hitting 26,656.98 on the charts, surpassing the previous high set in January of this year.
The previous high was set on January 26th, when the Dow closed in on 26,616.71. Following immediately after this surge was a major dip of close to 3,000 points and it has been trying to recover ever since. After six months of volatility, a new upward trend was set at the start of July. The Dow has increased over 2,000 points in less than three months to reclaim a record setting path.
Positive economic trends are surely backing the rise, as this is far from the only record being broken. “The U.S. economy is firing on all cylinders with virtually every American who wants to be working gainfully employed, high consumer confidence and solid economic growth,” acknowledges Fox Business. “Weekly jobless claims reported Thursday fell to a 49-year low. The unemployment rate in the country is 3.9 percent and, according to the most recent measure the U.S.’ GDP grew by 4.2 percent in the second quarter.”
Whether or not this is the best economy America has ever had continues to be a question growing in sincerity. As much as the president likes to bolster on about the booming economy, and rightfully so, a more tactful approach would likely want to see the trends maintain for years to come before committed to the claim of “best economy America has ever had.” However, the fact that it is even worth pondering reflects a renewed strength in a country that was long overdue.