Trump credits 'confidence' in administration for stock market record
Source: The Hill
BY MALLORY SHELBOURNE - 11/07/17 08:03 AM EST
President Trump on Tuesday took credit for record stock market highs, citing the confidence in his push for tax cuts.
Stock market hit yet another all-time record high yesterday, Trump wrote on Twitter from South Korea.
There is great confidence in the moves that my Administration........is making. Working very hard on TAX CUTS for the middle class, companies and jobs!
Link to tweet
Read more: http://thehill.com/homenews/administration/359075-trump-takes-credit-for-stock-market-record
DetlefK
(16,423 posts)See? Two can play that game.
William Seger
(10,779 posts)... that the stock market surge completely refutes "supply side" bullshit. Huge amount of cash are pouring into the Wall Street Casino from people who supposedly don't have enough money to create jobs. Let's give 'em a big tax break to see how far they can push that bubble before it inevitably collapses.
Bengus81
(6,931 posts)Then the brakes started getting applied,the smart money DUMPED their shares and as the end of Oct came the rest is history named The Great Depression.
This continued run up with no real corrections is NOT healthy. This is a CRASH waiting to happen. Let's see Butternut go silent when that happens just like when WHITE gun nuts kill in mass.
BlueIdaho
(13,582 posts)The Dow may look Huge but the current trend line started years ago under President Obama. Trump hasnt done shit.
kimbutgar
(21,163 posts)Years ago it was fundamentals that pushed up or down a stocks now its computer programs.
Stock market is riskier now then gambling in Las Vegas.
mahatmakanejeeves
(57,489 posts)I learned in a reply to this post that the most common form of color blindness makes it impossible to distinguish red from green. I apologize in advance.
Opinion: Is Trump rocking the economy? Not really, it's just average
Published: Oct 23, 2017 3:22 a.m. ET
Trumps first 9 months: The economy and markets are OK, but not the greatest ever
by Rex Nutting, Columnist
If theres one thing about President Donald Trump that everyone can agree on its this: The man sure does love to brag. According to him, everything about him is the biggest, the best, the smartest, the richest. Everything he touches is gold. Hes a perfect 10. ... No president has ever bragged about the economy and the stock market more than Trump has in the past nine months. Hes particularly proud of the markets performance, but hes also bragged about job growth and economic growth since he was inaugurated on Jan. 20 (in front of the largest crowd ever assembled, remember.)
....
Yes, the stock market is at record levels, and has done very well since January. But how unusual are those gains? How good is job growth, compared with the past? What about gross domestic product? ... At this point, weve got the numbers on nine months of stock-market returns, eight months of payroll growth, and two quarters of GDP growth. So I looked at how the stock market did in every nine-month period in the last 25 years (going back 12 more years to 1980 wouldnt change the analysis very much). I looked at employment growth in every eight-month period. And I looked at GDP growth in every two-quarter period.
The charts show the results. Ive colored in red all of the periods with better performance than what weve had since Trumps inauguration, and Ive colored all the periods with worse performance in green. All the charts end at the beginning of Trumps term.
The stock markets gains since Jan. 20 have been very strong, but bull markets arent unusual, as the red lines show.
{snip a lot of charts}
....
The conclusion of this analysis is about what youd expect if youve been paying attention: Everything is good, but its not the greatest ever. There have been some periods in the past that recorded faster growth, more hiring and larger returns in the stock market. And some periods were worse than the recent performance.
....
Rex Nutting is a columnist and MarketWatch's international commentary editor, based in Washington. Follow him on Twitter @RexNutting.
mahatmakanejeeves
(57,489 posts)Retweeted by Dave Weigel: https://twitter.com/daveweigel
To find a stronger post-election rally you need to go all the way back to the previous election.
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Tomorrow is anniv of POTUSs election. Stocks are up 21% since, in one of the best year-one rallies ever:
(via @GoldmanSachs) @cnbc
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