Friday, November 08, 2019
Dow, S&P 500 end at record highs even as conflicts emerge in Washington over new deal with China to cancel tariffs in stages. The Dow Jones Industrial Average DJIA, +0.02% rose 182.24 points, or 0.66%, to a record 27,674.80, while the S&P 500 index SPX, +0.26% gained 8.4 points, or 0.27%, to an all-time high of 3,085.18. The Nasdaq Composite index COMP, +0.48% added 23.89 points, or 0.28%, to 8,434.52, its second-highest close in history, according to Dow Jones Market Data.
For those keeping track at home:
Barry election night Dow = 9,625 Trump election night Dow (Barry's end point) = 18,332
Barry compounded annual return = 8.4% Trump = 14.7%
Trump = 75% better for the market.
And Trump accomplished this in the face of aggressive rate increases by the Fed, fighting our Chinese trade war, placing other protective tariffs on US industries, constant negative press from liberals praying for a recession to hurt consumer confidence, a global economic slow down (EuroZone is negative and China is negative or zero), a strong US dollar policy, low inflation, and a do nothing congress that won't pass the USMCA.
Truly astonishing what this man has been able to acheive. Remember when "Always-Wrong" Krugman told you to take your money out of the market after the election? Remember the constant stream of Libs claiming the sky was falling? Remember when Black and Latinos could not find jobs and wages were stagnant under Obama? Yeah, amazing turn around.
Bill Clinton still reigns supreme at 16.4%, but that was driven by a well known stock market bubble related to tech stocks. However, the data is the data.
If the Fed gets out of the way, I see Trump passing Clinton in his second term.
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