While Presidents have traditionally shied away from commenting too much on the stock market, President Trump has been ‘unusual’ in his focus on the arbitrary measure of America’s success (or failure).
Having been quite for much of the month – as US equity markets collapse most since the financial crisis – Yesterday’s dead cat bounce along with today’s extension…
…has sparked renewed optimism in The White House:
“Stock Market up more than 400 points yesterday. Today looks to be another good one. Companies earnings are great!”
Stock Market up more than 400 points yesterday. Today looks to be another good one. Companies earnings are great!
— Donald J. Trump (@realDonaldTrump) October 31, 2018
As Bloomberg notes, Trump has commented on the stock market more than 30 times since his election, the latest on Tuesday to blame Democrats for the October “pause” in markets. (The S&P 500 is down almost 9 percent in the month and lower for the year. It’s up more than 20 percent since his election.)
We wonder if President Trump will comment when this bounce dies and we test February lows once again?
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