A big question currently facing Wall Street, after all the executive orders from President Trump and the Dow flirting with the “magical” 20,000 mark:
If President Trump’s pro-economic growth, legislative agenda does not advance as promised, will the markets begin to lose faith and fall?
Wall Street watchers say that investors are, at least for the time being, willing to wait out the uncertainty, as long as they believe Trump’s agenda stays on course. Today it was announced that microchip maker Intel will invest $7 billion in an Arizona factory employing up to 3,000 people. That’s the kind of news investors like to hear.
“What Trump and his administration have to do is show that they’re making what the market perceives to be meaningful progress and, if there is anything that shows a substantial amount of progress and something looks pro-business, I think we’ll see the market break out to new highs again.”
According to the latest numbers from the American Association of Individual Investors survey, American confidence in the economy is at a 12 year high with consumers and businesses showing better-than-forecast optimism. However, one-time GOP Presidential candidate and billionaire publishing magnate Steve Forbes says that the economy simply must grow under the Trump Presidency, or he risks losing his blue collar support and faces the possibility of a failed presidency.
The Trump stock market rally actually began a few days before Election Day on November 4th and has resulted in the S&P 500 gaining just shy of 10%, and the Dow dancing around 20,000. But now the real work begins and we’ll see if Wall Street rises to the next level, or if stocks begin a massive selloff.
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