All 3 major US stock indices have a fantastic bull run since March 2020, the start of the Covid pandemic due to massive QE and loose monetary policy. Trump and Biden have together printed over USD10 trillion, exerting tremendous inflationary pressure on the economy. The US producer prices were up from 7.8% in the prior month. That's the largest gain since the data was first collected in November 2010. Nothing goes up in a straight line forever.