US economic expansion breaks record

This is yet another nail in the coffin for the “millennials don’t drive” myth. Everyone’s lifestyle needs evolve, and they often gravitate toward more independence/autonomy.

We are living in very special economic times. Today, July 1, 2019 marks the longest expansion in U.S. history. The previous record was set at 120 months from 1991-2001. That was the “Dot Com” boom. We can’t predict the future but fundamentals have set up with the potential for this expansion to become the greatest bull market of all-time. As of today’s close, the S&P 500 is just +16.16% away from 3,443 which would be a new record and represent a 417% gain from March 2009. This CAN happen and it is ours to lose. The most important factors are effective utilization of fiscal and monetary policy tools to stay out of recession or a Fed induced bear market, as what almost happened in December 2018. You can rely on American business as famously stated by Warren Buffet. Consider me optimistic.

While we are currently within the longest economic expansion in US history, previous expansions have beat out the current one in terms of pace and total growth over the cycle. First Trust outlines the reasons behind the laggard growth and forecasts that slow and steady may win the race. https://lnkd.in/gMWJ35x

The Market Bull – July 1, 2019 Despite disappointing data, the major averages closed with modest gains to begin the week. The current economic expansion hit the record books today at 121 months, longest ever. The previous record ended with the Dot-Com crash after 120 months. Financial crises have odd triggers, seemingly innocuous events that barely warrant any consideration. Yet with the benefit of hindsight turn out to be the straw that broke the proverbial Camels back. Recently a small regional bank in China collapsed sending shockwaves through the Chinese banking system, forcing the government to bail out the system with 125 billion in emergency funding after interbank lending froze. Other fallout from this includes a handful of hedge funds that have blown up, shades of the 2007 crisis that began when two Lehman Brothers hedge funds failed. With GAM Greensill Supply Chain Finance Fund, in Switzerland, imploding in early June, followed in short succession by Neil Woodford’s Equity Income fund . ... Read More: https://lnkd.in/gRJHJax Standard and Poors 500 Index closed at: 2,964.33 up 22.57 NASDAQ finished the day: 8,091.16 up 84.92 Gold ended trading at: $1,387.00 down $26.70

As of today, the current economic expansion is the longest in US history. Ten years and a day. But just because it's the longest doesn't mean it's the best. The expansions of the 1960s, 1980s, and 1990s, all beat it out both in terms of the pace of growth as well as the total growth during the cycle, whether you measure from peak to peak or cycle bottom to the top... #mondaymorningoutlook #wesbury #firsttrust #economy

Today, the United States enters the 121st month of the economic expansion officially making it the longest expansion on record. Meanwhile, the S&P 500 hits new highs. #GDP #stockmarket https://bloom.bg/2NpNo7c

US also in its longest stretch of monthly job gains; unemployment rate is at its lowest since 1969. https://lnkd.in/gjarw7G