That’s how much further the Dow Jones Industrial Average DJIA, +1.22% has to fall before you can start saying Trump’s been bad for the stock market.
As the late Daniel Patrick Moynihan said: “Everyone is entitled to their own opinions. But not their own facts.” I was worried about what would happen to the stock market if Trump was elected. I feared there might be an initial panic, and then a lot of turmoil. Both seemed real hazards based on everything he’d said. But I was wrong. I’ve been very pleasantly surprised at the way the market, and the economy, have shrugged off all his melodrama in Washington.Since Trump’s election, the S&P 500 Index SPY, +1.68% has produced a 42% total return, including dividends.
Actually, the returns since Trump took office are already more than you’d expect for the entirety of an average four-year term. I doubt very much the media would be saying, “Who cares if the Dow is down under Trump? Most people don’t have money in the stock market anyway.”It’s dollars to doughnuts that in newsrooms across America, editors have been frantically commissioning fresh “I told you so” articles since the latest turmoil began a couple of weeks ago. They were probably ready to run Wednesday, until the Dow rallied.It’s possible his tax cuts had no effect on markets. Or his lighter touch on federal regulations.
The stock market had already been booming for eight years. Shares were very expensive by several long-term measures. Meanwhile, the Federal Reserve was raising interest rates and withdrawing the monetary stimulus it had ejected into the economy after the financial crisis. If “quantitative easing” drove stock prices up, shouldn’t “quantitative tightening” have brought them down?Let the record show that right-wing partisans were just as bad about Obama’s market as the left-wing partisans are now.
In my opinion just a moronic statement
He’s been excellent for the stock market
... when it drops to 10k
Fat POTUS considers stock gains, in his own words ‘House Money’. Money he can squander without reguard for investors. (Trump considers gains in people’s retirement accounts HIS to play with).
Performance of the stock is one thing, national debt is another thing.
Time to change your company name to Trump Hater!
sad if a prez is judged by stock market numbers. most people who need help do not participate in the stock market. if a rich guy does well in stock market, you think he will pay his employee a bonus? no, he will buy a bigger boat instead. brett arends is possibly like that
Actually, you could start saying it a year ago.
This is just....not how it works
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