US Economy Looks ‘Awfully Good,’ Will Grow Under President Trump
$DIA, $SPY, $QQQ, $VXX
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein is very optimistic about the future under President Donald Trump, declaring that the economy looks “awfully good.”
He explained that inflation remains low, causing interest rates and commodity prices to be lower than they normally would be at this stage of a prolonged economic recovery.
Mr. Blankfein said that he doesn’t expect the US and China to engage in a “mean-spirited” trade war because it would eventually be lethal to both nations.
He said he does not blame President Trump’s desire for a better trade arrangement between the 2 nations. But he said a “real aggressive, mean-spirited trade war is so bad” that both parties will do what they can to avoid it.
“We need each other on a lot of other things as well. Look at the security situation in the world with North Korea,” he said. “There are other things at stake here, maybe bigger things at stake that will provide another impetus for us getting together and working these issues out.”
Meanwhile, US stocks have gained solidly in here after strong results from industry bellwethers as well as positive economic data helped investors turn attention away from geopolitical and trade tensions
For his part, President Trump took to Twitter to tout the economy.
“So many people are seeing the benefits of the Tax Cut Bill. Everyone is talking, really nice to see!” President Trump said in a recent Tweet.
Wednesday, the major US stock market indexes finished at: DJIA -38.56 at 24748.07, NAS Comp +14.14 at 7295.23, S&P 500 +2.25 at 2708.64
Volume: Trade on the NYSE came in at 770-M/shares exchanged
- NAS Comp +5.7% YTD
- Russell 2000 +3.1% YTD
- S&P 500 +1.3% YTD
- DJIA +0.1% YTD
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