Trump praises market highs amid rising fuel costs
US President Donald Trump has once again pointed to record gains on Wall Street as proof of what he described as a “booming” US economy, even as the ongoing conflict with Iran continues to drive up living costs for many American households.
“Stock Market hit an ALL-TIME HIGH TODAY 401Ks and jobs booming,” Trump wrote in a message reposted by the White House on X, News.Az reports.
The S&P 500 and the Nasdaq Composite both finished Thursday at record highs, advancing 1.46 percent and 2 percent respectively, largely fueled by strong gains in technology and artificial intelligence-related shares.
Stock Market hit an ALL-TIME HIGH TODAY. 📈 pic.twitter.com/HiaPe1MUgk
The Dow Jones Industrial Average also rose more than 1 percent, moving closer to its own historic peak.
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Market analysts linked the rally to renewed investor confidence surrounding the possibility of progress in peace negotiations between Washington and Tehran, a development that contributed to a decline in global oil prices.
However, despite Trump’s emphasis on strong economic performance, fuel prices across the US remain elevated. The national average price for petrol stands at $4.48 per gallon (3.78 litres), one of the highest levels recorded in recent years. Before easing slightly on Wednesday, fuel costs had jumped 11 percent over a two-week period.
Meanwhile, the US Federal Reserve reported last month that American households’ expectations for inflation in food and energy prices had climbed to their highest point since 2022, highlighting growing concerns over the rising cost of living.
By Nijat Babayev
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