Donald Trump Brings Business Knowledge To White House
$DIA, $SPY, $QQQ, $VXX
President Donald Trump would benefit Wall Street investors by way of making companies 30% more profitable, his economic policy adviser Wilbur Ross said on TV Wednesday.
“Here’s why Trump would be better for Wall Street investors than Hillary Clinton: 30% effective reduction in taxes going from 65% carried down post-tax to 85. That’s a 30% increase in every company’s earnings,” the financial guru said. “Can you imagine what your portfolio would do if every business earned 30% more?”
Mr. Ross also addressed unemployment, saying Donald Trump’s proposed changes to America’s trade policy will put people back to work.
“Here’s how: by bringing trade back, bringing jobs back that had been exported,” Mr. Ross said when asked how Mr. Trump’s plan will work. “We’ll be exporting products, not jobs.
“That’s a big difference between the current policy and ours. The people on the left seem to think all trade agreements have been wonderful.
“Let’s take the Mexican one that has been talked about a lot.
Prior to NAFTA we had a $4-$5-B a year trade surplus with Mexico. Guess what the cumulative trade deficit since NAFA has been? $1-T.”
Wednesday, the US major stock market indexes finished at: DJIA -77.46 at 17959.64, NAS Comp -48.01 at 5105.57, S&P 500-13.78 at 2097.94
Volume: Trade was heavy with about 2-B/shares exchanged on the NYSE
- DJIA +3.1% YTD
- S&P 500 +2.6% YTD
- Russell 2000 +2.5% YTD
- NAS Comp +2.0% YTD
The CBOE Volatility Index (19.10, +0.54, +3.0%) is up 3 points from last Friday’s settlement, showing that volatility expectations are on the rise.
Safe haven bonds, Gold, and currencies gained on the developments as participants attempt to mitigate the impact of any surprise results from next Tuesday’s US Presidential Election
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