Posted on 11/07/2017 9:18:09 PM PST by 2ndDivisionVet
NEW YORK (CNNMoney) -- It's easy to forget that the Trump rally started with palpable fear on Wall Street.
Exactly one year ago, Donald Trump's shocking performance on election night sent shudders through global markets. Dow futures crashed by nearly 900 points as investors fretted about Trump's volatility and scary campaign promises on trade and immigration.
"It was fear and panic that night," said Wade Balliet, chief investment strategist at Bank of the West.
But the market freakout vanished by morning, and stocks started the Trump era on a decidedly optimistic note.
"People quickly decided maybe it's not doomsday. Maybe it's an opportunity," Balliet said.
It turned out to be an historic opportunity.
The S&P 500 has soared 21% since the close of trading on Election Day 2016. That's the third-best performance during a president's first year since World War II, behind only President George H. W. Bush and President John F. Kennedy, according to Sam Stovall of CFRA Research.
The stock market also hit a record number of records under Trump. The S&P 500's 60 all-time highs since the election is unmatched during a president's first year in office, according to CFRA.
That achievement underscores the fact that Trump inherited a stock market near all-time highs and an economy that was in solid shape. It also highlights how remarkably tranquil the rally has been. Sharp drops and steep gains have been rare.
Unlike most of his predecessors, Trump frequently brags about Wall Street's post-election rise. It's a tactic that could backfire should stocks tumble, as they've been known to do at times.
Trump went a step further by recently appearing to take full credit for the market's climb.
"The reason our stock market is so successful is because of me," he told reporters on Air Force One on Monday....
(Excerpt) Read more at kitv.com ...
My IRA salutes you!
Just wait until we actually GET tax reform. To the moon, Alice...to the moon.
Today is a good day to remind everyone of this.
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?Paul Krugman, early morning, Wednesday November 9, 2016 - about 5700 DJIA points ago.Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never....
So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.
>>Exactly one year ago, Donald Trump’s shocking performance on election night sent shudders through global markets. Dow futures crashed by nearly 900 points as investors fretted about Trump’s volatility and scary campaign promises on trade and immigration. “It was fear and panic that night,” said Wade Balliet, chief investment strategist at Bank of the West.
http://www.businessinsider.com/george-soros-lost-1-billion-after-trump-election-2017-1
Companies that support the President.
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