"Dow rockets to 24,000, building on incredible post-election surge"
Among the criticism of Donald Trump lies an impressive feat:"The Dow has spiked nearly 6,000 points since President Trump's election last year, notching 79 daily record highs since then." Our markets have been incredible since his election, including the S&P and Nasdaq. "The S&P 500 and Nasdaq are also near all-time highs. The latter is up a whopping 30% since the election." "Keep in mind the S&P 500 is in the midst of its longest rally ever without a 3% slump, according to Bespoke Investment Group." With people wanting to invest, our economy is in a good state. Consumer confidence is high and people are putting money back into the economy. It is great to see our markets doing well and hopefully President Trump can continue to provide opportunities for our country in the near future. I am interested in seeing how long these upward trends will last and how much the decrease will be in the markets I mentioned (if any).
-NB
http://money.cnn.com/2017/11/30/investing/dow-24000-stocks-wall-street-trump/index.html?iid=Lead
Great article Nick. It is pretty impressive that the economy has done so well since the election but I'm curious to know how much of that is actually due to Donald Trump. The tax reform does seem like it will have some positive impact on the economy because of the corporate tax rates being cut and that can be reflected in market right now. Other than that, I would just like to see whether the boost in the dow is due to solely correlation or if there is significant causation.
ReplyDeleteI do think that while Trump has been in office, our overall economic growth seems to be increasing. With that being said, as the tax cuts are being implemented and different tax reforms that are also coming in the near future, it is uncertain how well out economy will continue to grow. Especially at the rate that it is going at the moment.
ReplyDeleteMarkets have been on the rise, as everyone has said you can't deny that. But, most would agree that Donald Trump himself may not have been the sole reason as we showed growth before the election as well. Tax reform looks to increase debt, increase taxes on the low income, so consumer confidence may fall and cool the market down.
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