(The Lion) — The U.S. stock market continues to rally to record highs even as President Donald Trump’s economic policies face withering criticism from legacy media and Democrats over tariffs.
The 30 stocks in the Dow Jones Industrial Average opened trading up 200 points Monday after finishing at record highs Friday, CNBC reported.
Liberal Wall Street interests and Federal Reserve Chairman Jerome Powell, along with the legacy financial media, have argued Trump tariffs will derail the economy with inflation and anemic international trade.
However, major markets continued to rock upward even as Trump and Treasury Secretary Scott Bessent confirmed tariffs are still on the table for American trading partners.
Both men warned over the weekend that countries unfairly trading with the U.S. will face higher tariffs as soon as July 9.
On Sunday, Trump suspended trade negotiations with Canada over digital taxes imposed on American technology companies. Canada subsequently rescinded the imposition of the digital tax.
The record stock market highs in the S&P 500 tally one of the biggest one-quarter reversals in the history of the stock market, noted investment expert Charles Payne, host of the Fox Business show “Making Money.”
“The Magnitude of the rebound in the stock market is a direct rebuke of the financial media and Wall Street’s campaign of fear,” said Payne via X. “The worst-case scenarios voiced were never possible unless they could have triggered a ‘Black Friday’ market crash.”
Payne shared a chart from Bloomberg showing this quarter’s 9% rise in the S&P 500 after losing 14% in the quarter before, a bigger rebound than the fourth quarter of 1933, after one of the blackest moments of the Great Depression.
The 1933 quarterly rebound was the largest on record before 2025, according to the chart.
“Boy, did they try [to crash the market],” added Payne about the attempt to frighten consumers and investors since Trump’s inauguration. “And damn near pulled it off. These people wanted to ruin lives to preserve a system with limited wealth distribution, or out of TDS [Trump Derangement Syndrome], or both.”
Job creation has skyrocketed under the new president, beating expectations for three months in a row.
Since inauguration, the economy has created about 508,000 jobs as of May, while unemployment has remained stable because more people are entering the workforce.
Inflation has continued to defy “expert” forecasts despite the imposition of baseline 10% tariffs and reciprocal tariffs by the Trump administration, which Keynesian economists warned would spark massive price increases.
Inflation has moderated to an annual rate of 2.3%, the lowest since January 2021.
But that’s not the end of the good news.
Tariffs have generated $121 billion worth of revenue since January, Yahoo Finance reported.
Experts are missing how much revenue is pouring into the federal treasury because of tariffs, Trump Commerce Secretary Howard Lutnick said.
“Our current run rate exceeds $30 billion per month. $30 billion per month in cash received by the US Treasury to reduce our deficit and lower the amount we need to borrow,” he said via X.
Meanwhile, the latest forecast from the Atlanta Federal Reserve predicts gross domestic product growth will come in somewhere around 3% for the quarter.
As a result, consumer confidence has seen its largest increase since the beginning of 2024, Bloomberg reported.
Exit polls showed voters trusted Trump on the economy in the 2024 presidential contest, which helped hand him the victory.
