Donald Trump takes a victory lap on stock market's record high in an early morning tweet
Getty Images/Pool
"Since November 8th, Election Day, the Stock Market has posted $3.2 trillion in GAINS and consumer confidence is at a 15 year high. Jobs!" Trump tweeted.
The tweets echo Trump's speech to the joint session of Congress on Tuesday night in which he said, "The stock market has gained almost three trillion dollars in value since the election on November 8th, a record."
The Dow Jones industrial average cracked through 21,000 on its way to a record-high close on Wednesday. The index jumped from 20,000 to 21,000 in just 24 trading days, tying the record for the fastest move between two 1,000 point landmarks.
Analysts cited Trump's statements endorsing lower corporate taxes and infrastructure investments as part of the reason for the 303 point pop in the Dow on Wednesday.
Trump, in the tweet, also referenced the increase in the Conference Board's Consumer Confidence index, which ticked up to 114.8 for the month of February. It now sits at its highest level since July 2001.
While these are useful indicators of enthusiasm in the economy, recent hard data - or data measuring actual economic activity - has been mixed as retail sales and jobs gains have been strong while construction spending, pending home sales, and vehicle sales have been weak.
It remains to be seen whether or not the enthusiasm for Trump's economic agenda has translated into improved growth.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market