Donald Trump Will “Trash” Obama’s No-Growth Orders
The Trump Rally extends, US stocks finished higher Tuesday, with the DJIA hitting a record high close for the 4th session running as tech stocks rebounded from a post-election hammering and energy stocks were boosted by a sharp rise in Crude Oil prices.
Tuesday, Steve Forbes predicted a busy Inauguration Day for Donald Trump, saying he believes the US President Elect will reverse President Barack Hussein Obama’s “anti-growth executive orders” and make a push for deregulation.
“One of the things I think the President will do even on Inauguration Day itself is sign executive orders peeling away a lot of Obama’s anti-growth executive orders and having a real push for deregulation,” Mr. Forbes said.
“Remember when Ronald Reagan came in back in 1981, on Day 1 he took off price controls on oil and gas which critics said would lead to a huge increase in prices,” Forbes said. “It led to just the opposite. More supply, more reasonable prices and it contributed to the great boom of the 1980s. I think you will see Trump try to do the same thing from Day 1 on the deregulatory side of things.”
Forbes pushed back on President Obama, who defended his regulations Monday, saying that removing those regulations would be a mistake.
“And you look at the small businesses, they’re getting crushed by these rules and regulations,” Mr. Forbes said. “Many of them written in language which no one can interpret except a bureaucrat depending on his or her mood that day, and that hurts investment. If you get a push on deregulation, not punishing banks for making loans, I think you will see the credit markets start to revive.”
Tuesday, the US major stock market indexes finished at: DJIA +54.37 at 18923.06, NAS Comp +57.23 at 5275.62, S&P 500+16.19 at 2180.39
Volume: Trade was heavy with 1.16-B/shares exchanged on the NYSE
- Russell 2000 +14.8% YTD
- DJIA +8.6% YTD
- S&P 500 +6.7% YTD
- NAS Comp +5.4% YTD
15 November 2016
DIA 188.4 Bullish (0.41)
SPY 217.15 Neutral (0.23)
QQQ 116.23 Neutral
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