President Trump Right to Take Credit for Booming US Stock Market
$DIA, $SPY, $QQQ, $VXX
US stocks climbed to new records for the 3rd session running Tuesday, as investors took in the latest batch of Q-4 earnings and celebrated the reopening of the federal government.
Tuesday, Blackstone (NYSE:BX) CEO Steve Schwarzman says President Donald Trump is well within his rights to take a bow for the booming US stock market.
The Blackstone co-Founder said that President Trump’s policies, including tax cuts, will provide a big boost to US growth.
“I think they’ll have a substantial impact on the economy,” Mr. Schwarzman said.
“You started to see this right after the election, and the stock market started going up just in the anticipation of tax reform and tax cuts and changes in regulation,” he said. “Those things happened and are happening.”
Since the 8 November 2016 election, the DJIA has gained more than 42%, the S&P 500 has gained more than 32%; the NAS Comp is up more than 42%
Mr. Schwarzman, who had led the President’s Policy Forum, also says President Trump can take credit for improved business confidence.
To be sure, Wall Street’s main indexes were higher Tuesday as upbeat results from Netflix, Travelers outweighed concerns of the potential impact of President Trump’s decision to impose steep import tariffs.
SKorea and China protested against President Trump’s move to impose import tariffs on washing machines and solar panels, with Seoul saying it would respond to the spread of protectionist measures.
President Trump says the mainstream liberal media twists the facts and distorts reality.
“Do you notice the Fake News Mainstream Media never likes covering the great and record setting economic news, but rather talks about anything negative or that can be turned into the negative. The Russian Collusion Hoax is dead, except as it pertains to the Dems. Public gets it!
Tuesday, the major US stock market indexes finished at: DJIA -3.79 at 26210.81, NAS Comp +52.26 at 7460.28, S&P 500 +6.16 at 2839.13
Volume: Trade on the NYSE finished at: 793-M/shares exchanged
- NAS Comp: +8.1% YTD
- S&P 500: +6.2% YTD
- DJIA: +6.0% YTD
- Russell 2000: +4.9% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.67)||Very Bullish (0.58)||Very Bullish (0.73)||Very Bullish (0.71)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Very Bullish (0.67)||Very Bullish (0.62)||Very Bullish (0.77)||Very Bullish (0.62)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.49)||Bullish (0.38)||Very Bullish (0.61)||Bullish (0.47)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.42)||Neutral (-0.19)||Very Bearish (-0.70)||Bearish (-0.38)|
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