To quote President Trump’s Social Truth post, “Congratulations America.” Up to 50,000.

And the widely known index not only topped 50,000, but soared more than 1,100.

And all these technical whiners and whiners have had their day in court, but they lost because they’re up almost 2 percent and the broad-based S&P is up almost 2 percent.

There’s always a frothy sales period, a sort of purge. And it’s healthy. However, as I have believed for so many decades, you buy stocks for the long term. You buy indexes or ETFs and hold them for the long term. And right now we have a market that is supported by very strong fundamentals.

Yes, that’s right, profits are the mother’s milk of stocks. And the benefits are strong. Future earnings estimates continue to show double-digit profit gains. And this is profitability driven by productivity,

where unit labor costs are barely above one percent, i.e. wages minus productivity.

It’s a decent indicator of low inflation and therefore the entire Trump economic boom.

The success of the A big, beautiful tax cut billderegulation, “drill, baby, drill” and reciprocal fair tradeis supporting the stock market.

There is a boom in business investment, called capital deepening, that is boosting productivity and real wages for middle-class workers.

And please remember that there are something like 135 million Americans invested in stocks, through 401ks or IRAs, or brokerage accounts, or even union pension funds.

And we hope that the success of Trump’s baby savings accounts will create a generation of children who will not only appreciate how the stock market works, but also business and the entire economy, and therefore free market capitalism.

From poverty to millionaire status, anything is very possible. Treasury man Scott Bessent He talked about it today, noting that “Trump’s bills are a generational down payment on the American dream.” He added that “each eligible American child will receive a $1,000 seed contribution invested in the American stock market, giving them a tangible stake in the world’s most powerful economy.”

Mr. Bessent concluded, “As kids watch their accounts grow, they learn how markets work, how patience pays off, and how financial stability builds independence.”

Part of today’s stock market rally could be attributed to the third consecutive rise in consumer confidence and a six-month high.

I’m not crazy about this poll because it’s heavily weighted toward Democrats. However, perhaps some of them have seen the light and will stop going on about tariff inflation and other economic evils that have not occurred.

And what’s more, a good article by Kim Strassel in the Wall Street Journal points to a considerable reduction in the outlook for a federal budget deficit.

Office of Management and Budget Director Russell Vought is re-estimating a nearly $12 trillion reduction in the deficit outlook.

That includes $2 trillion from the One, Big, Beautiful Bill and $5.6 trillion attributable to economic growth of 3 percent or better. There is also $290 billion in tariff revenue by 2025, which is $4 trillion over 10 years. And all of this reduces interest expense by $1.8 trillion.

So anyway, the spending curve starts to go down for a change.

All is well and all is captured by a roaring stock market.

Congratulations, America. enjoy it