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Market mayhem puts Trump in a tough spot

The White House said in a statement that Trump was focused on “our long term economic fundamentals, which remain exceptionally strong.” The statement cited strengthening economic growth https://www.winterdownparkas.com , low unemployment and increasing wages for workers.That the administration felt the need to weigh in underlines the risk Trump took in becoming the cheerleader in chief.Presidents don’t typically comment on the Dow’s day to day moves, in part Canada Goose Outlet because Canada Goose Jackets the market is notoriously fickle. Wall Street is always one mood canada goose store swing away from turning a rally into a plunge. And taking canada goose deals so much credit for the good days makes it hard to distance yourself canada goose clearance sale from the bad ones.”It’s a risky canada goose clearance game to talk about the markets. But it seems like Trump is going to live or die by the stock market,” said Greg Valliere, chief global strategist at Horizon Investments.Trump has tweeted about the stock market dozens of times since his election, frequently bragging about the latest all time highs on Wall Street.”Dow, S 500 and Nasdaq all finished the day at new RECORD HIGHS!” Trump said on Twitter on November 28.Trump hasn’t just claimed that stocks are up because of him, he has argued without offering proof that they would have crashed if Hillary Clinton were president.”If the Dems (Crooked Hillary) got elected,” Trump tweeted in late December, “your stocks would be down 50% from values on Election Day.”Related: The Dow has lost 1,000 points in two daysTrump is not the first president to talk about the market, but his predecessors did so infrequently and spoke in broader terms.In some ways, Trump’s obsession with the market canada goose coats is surprising because he paints himself as a populist and the market tends to benefit rich people more than poor. Barely one third of families canada goose black friday sale in the bottom 50% of earners own stocks, either directly or indirectly through 401(k) plans canada goose outlet , according to Canada Goose online the Federal Reserve.”It’s risky because many people in his base don’t like the market. They hate Wall Street,” Valliere said.Of course, buy canada goose jacket cheap the recent losses on Wall Street have put just a dent in the overall gains of the Trump era. The Dow and Nasdaq remain up nearly 40% since Trump’s election. And even after the big drops on Friday and Monday, stocks aren’t far off their all time highs.And the White House is correct: The economic fundamentals are strong. The unemployment rate is at a 17 buy canada goose jacket year low, and global growth is accelerating.That Canada Goose sale means this market rough patch could quickly fade, allowing Trump to once again tout record highs on Wall Street.Related: Good news for Main Street is freaking out Wall StreetIronically, Trump’s signature legislative accomplishment massive tax cuts for businesses may be playing a role in the recent market trouble.The tax cuts prescribed expensive medicine to a healthy economy. Stimulating a strong economy canadian goose jacket could be too much of a good thing. Morgan Stanley warned in the fall that “overheating” the economy may backfire by causing stocks to “boom then bust.”There are early signs that just that scenario is cheap Canada Goose playing out. The stock market soared as Congress moved toward enacting tax canada goose coats on sale cuts that would be paid for by adding to the deficit.But now trouble in the bond market is unnerving stock investors. Heavy selling has lifted the 10 year Canada Goose Parka Treasury yield from about 2.4% at the beginning of 2018 to 2.85% today. Higher bond yields make stocks look less attractive and raise borrowing costs for businesses, consumers and of course the federal government.”The new tax bill and administration deficit policy mean accelerating federal borrowing,” David Kotok, co founder of Cumberland Advisors, canada goose wrote in a report on Monday.

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