Donald Trump “is loving the stock market these days,” notes the Wall Street Journal as the Dow Jones Industrial Average cracked the 22,000 mark for the first time.

It’s the fastest jump for a new president since George Bush I moved into the White House in 1988.

But let’s catch our breath before tossing bouquets of thanks at The Donald.

Donald Trump tweet on Dow hitting 22,000

What part of the Tweeter-in-Chief’s agenda is responsible for the bulls on Wall Street?

It surely wasn’t the trifecta of repealing ObamaCare, revamping the tax code and rebuilding infrastructure. One down. Two to go.

Corporate profits, not Trumpism, are driving the stock market. Ignoring the President’s America First fortress mentality, US multinationals have benefitted from rebounding overseas markets and a weaker dollar.

Thomson Reuters reports that America’s biggest companies are poised to record back-to-back consecutive quarters of growth for the first time since 2011.

CNBC’s senior analyst Ron Insana says the economy; job creation and stock market gains have continued to advance despite the actions of the Trump administration, not because of it.

It's the ultimate Wall Street bubble. A protective bubble that encases Wall Steet and shields it from the Washington turmoil.

“It is safe to say that many observers have been shocked the stock market has not suffered more than a two percent correction, peak to trough, so far this year, despite policy failures in Congress, chaos in the West Wing and rising geo-political risk all around the world,” wrote Isana.

Crystal balls crack on Wall Street. Stock prices could tank if tax reform falls apart or Trump’s plea for private sector cash to bankroll an infrastructure scheme falls on deaf ears. Conversely, Wall Street could continue to ignore the dysfunctional White House and reach new highs.

Trump’s boast of an 11 percent spurt in the Dow is way premature. After all, the market surged about 150 percent under the eight years of President Obama.

If Trump were able to match Obama’s stock performance, the Dow would pass the 49,000 mark. The President has a long way to go before earning boasting rights as the wizard of Wall Street.