The stock market today, represented by the S&P 500 index, finished the day’s trading at 6,000.36. The market was up for the week and for the month of June (so far).
The significance of the 6,000 level goes beyond the round number. We are now above the level on the day Pres. Trump took office for his second term back in January. The market had not been above 6,000 since Feb. 21.
In fact, on the only days in history where the market was above 6,000, Trump was President. The market is up nearly 4 percent since Trump was re-elected last November.
The market today apparently liked what they saw in the May jobs report, released this morning. Barron’s reports,
The S&P 500 has been flirting with 6000 for weeks, but Friday’s jobs report pushed the index over the top.
The S&P 500 was up 1.2% to 6012 this morning. The index hit 5999 on Thursday before pulling back—a move lower that accelerated when Tesla stock sank in the wake of CEO Elon Musk’s feud with President Trump. But the rest of the market has already rebounded from the Musk-Trump tiff.
As for Rasmussen Reports, the President’s job approval rating is still in the green, showing net positive for every day of June, so far. The last day the rating was net negative would have been back in late April.
