U.S. Stocks on Pace for Best June in 81 Years

  • 2019-06-28
  • Source: TTN
  • by: TTN Staff
U.S. Stocks on Pace for Best June in 81 Years
The Dow Jones Industrial Average had its best performance – since 1938 – this June. (MarketWatch)
 

Recent gains have helped the Dow Jones Industrial Average DJIA, +0.28% to ring up its best June gain of 7.2% since 1938 when the blue-chip benchmark surged an eye-popping 24.3% on the month, according to Dow Jones Market Data.

The S&P 500 index SPX, +0.58% notched its best June return, with a gain of about 6.9%, since 1955 when the broad-market benchmark rose 8.2%, while the Nasdaq Composite Index COMP, +0.48% was on track for a 6.9% return in June, which would represent its best June since a 16.6% gain back in 2000. The S&P 500 on June 20 notched its first record close since April 30, while the Dow is off less than 1% short of its Oct. 3 all-time closing peak.

The rally for equities has been partly supported by the Fed, which concluded its Wednesday rate-setting meeting by signaling a willingness too trim rates as soon as the end of the July 30-31 gathering to curb the effects of tariff clashes between the U.S. and international trade partners, notably China, that have roiled global economies and threaten to disrupt global supply chains. Investors are awaiting a meeting between President Donald Trump and China President Xi Jinping to resolve their testy trade dispute.

Wall Street has been pricing in as many as three rate reductions in 2019, according to CME Group data, tracking federal-funds futures.

 Source: TTN

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