$DIA, $SPY, $QQQ, $RUTX, $VXX
FLASH: Real GDP increased at an annual rate of 3.2% (consensus 1.9%), according to the advance estimate for Q-1 GDP, a blockbuster number.
President Trump is Supercharging the US Economy!
President Donald Trump’s re-election hinges on supercharging the US economy, and data showing faster than expected growth provided him a boost just as he is ramping up his campaign.
President Trump heralded the Commerce Department report Friday that GDP rose at a 3.2% annual rate in Q-1 of Y 2019 describing it as “incredible,” while also claiming credit for driving low inflation.
‘We are knocking it out of the park,’ President Trump said just before boarding Air Force One Friday to travel to an event in Indianapolis for the National Rifle Association, a Key constituency for the President.
This weekend, the President will put his argument that he has lifted the economy before voters in Wisconsin, a Rust Belt state whose support for him proved decisive in his Y 2016 win over Democrat Hillary Clinton.
“GDP smashed expectations,” President Trump said at the NRA rally.
He signaled in a Tweet this week he’s confident that the economy will buffer him from Democratic challengers in Y 2020.
“I believe it will be Crazy Bernie Sanders vs. Sleepy Joe Biden as the two finalists to run against maybe the best Economy in the history of our Country (and MANY other great things)!’ President Trump said.
The President is hopeful that striking a trade deal with China can further boost markets ahead of Y 2020, as he expects Chinese President Xi to visit the US soon to cement a final agreement. He told reporters Friday that talks on the long-awaited deal ar proceeding favorably.
‘We are in a trade deal, which, by the way, is going very well,’ President Trump said.
Friday, the major US stock market indexes finished at: DJIA +81.25 at 26543.33, NAS Comp +27.72 at 8146.39, S&P 500 +13.71 at 2939.88
Volume: Trade on the NYSE came in at 766-M/shares exchanged
- NAS Comp +22.8% YTD
- Russell 2000 +18.0% YTD
- S&P 500 +17.3% YTD
- DJIA +13.8% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish to Very Bullish at the week ended 26 April 2019.
Have a terrific weekend.