Media Ignores 6th Weekly Gainer as US Stock Market Post Record Highs

Media Ignores 6th Weekly Gainer as US Stock Market Post Record Highs

Media Ignores 6th Weekly Gainer as US Stock Market Post Record Highs

$DIA, $SPY, $QQQ, $VXX

  • The Trump Rally Extends
  • Tax Reform ahead
  • Unemployment at lows not seen since 1973

The US stock market hit another all-time high on Friday, but the “fake media” did not spend much time covering that, President Donald Trump Tweeted Saturday.

Stock Market hits another all time high on Friday. 5.3 trillion dollars up since Election. Fake News doesn’t spent much time on this!

 Friday, the major US stock market indexes posted record closing highs and the S&P 500 posted a 6th week of gains, analysts said the spike was because of growing hopes that President Trump’s tax reform plan could move forward.

 

Stocks had also rallied following Trump’s election last November, due to his promises that he would cut taxes and reduce regulations.

President Trump ripped the media again later Saturday, this time for its “lightly reported” coverage of the lowest weekly level of unemployment claims filed since Y 1973 on Thursday:

Just out, but lightly reported: “Fewest jobless claims since 1973 show firm U.S. Job Market” Lowest since March 1973. @bpolitics

 The US Labor Department reported that only 223,000 Americans applied for unemployment benefits last week, dropping by 19,000 from the previous week, to the lowest level since March 1973, that when Richard Nixon was President.

Overall, 2.07-M Americans are collecting unemployment benefits, down more than 7% from a year ago.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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