The stock market has achieved gains under President Trump’s first month in office not seen since the days of Lyndon B. Johnson over 50 years ago.
Earlier this week, stocks closed at new highs for the fifth consecutive day with what CNBC reporter Fred Imbert described as traders betting “on a pro-growth agenda under President Donald Trump.”
“The market reacts positively when we think we’re getting close to” a policy announcement, said Art Hogan, chief market strategist at Wunderlich Securities. “As long as we stay focused on that, the market is going to continue to go higher.”
The president continued to tout his economic agenda in a meeting with retail CEOs Wednesday.
The Dow Jones industrial average added 107 points with Procter & Gamble contributing the most to gains. Shares rose 3.7 percent after CNBC reported late Tuesday, citing sources, that Nelson Peltz’s Trian Fund Management has taken a stake in Procter & Gamble and the funds’ current position is worth roughly $3.5 billion.
The news prompted CNBC reporter Carl Quintanilla to put those numbers and the cumulative result of Trump’s first month in office in perspective.
It’s official: POTUS now has best 1st-month stock performance for an incoming WH since LBJ:
— Carl Quintanilla (@carlquintanilla) February 15, 2017
That is the same LBJ that liberals hail as their progressive hero, having introduced massive liberal reforms such as the Great Society.
Oh, how it must hurt them to have Trump mentioned in the same breath.
Analysts have indicated they believe Trump will deliver on tax reform and infrastructure spending, leading to greater growth.
On Wednesday, the President said his administration remains “focused on the issues that will bring economic growth. That’s what we’re all about.”
Perhaps this is why New York Stock Exchange (NYSE) traders were openly taunting Hillary Clinton on the floor of the exchange when she lost her bid for the presidency. They knew all along Trump was the better pro-economic choice for America.
Comment: Do you think the economy will continue to flourish under President Trump? Share your thoughts with us below.