Here's how investors and workers are doing after 200 days of President Donald Trump
Thomson Reuters
August 7 marks the 200th day of President Donald Trump's tenure.
In his first six and a half months in office, the President has promised economic prosperity and a revitalization of American industry.
And he's boasted about his success — using the record-setting stock market, and an ongoing job-market recovery — to claim credit for energizing the U.S. economy.
Trump is right that stocks are at a record, and job creation continues. What's wrong is the suggestion that this is reversing a decline that was in place before the new administration took office.
Business Insider took a look at how some key markets and economic indicators have responded to the new president in the first 1/8 of his term.
Stocks have risen steadily since Trump's inauguration, with the benchmark Dow Jones Industrial Average recently hitting the 22,000 mark for the first time.
Stocks have been slowly ticking up and hitting new highs on a regular basis since Inauguration Day, although they've generally moved at a somewhat slower pace than in the days immediately after the election.
Investors seem to be expecting a corporate-friendly agenda of tax cuts and deregulation, although ongoing troubles in the White House and the failure of the Republican-held Congress to pass a healthcare-reform law have taken some of the wind out of their sails.
This year's rally in stocks is part of an 8-year long bull market.
While the Dow saw a sharp upward spike in the wake of the election and healthy gains since Inauguration Day, the stock market has seen a mostly steady uptick since bottoming out in March 2009 in the wake of the financial crisis.
The US dollar has been on a downward trajectory since Trump's inauguration.
After rising quickly after the election, the dollar has seen several months of weakness and erased those gains as expectations for the US economy have faltered.
The president himself has weighed in on the dollar, telling the Wall Street Journal in April, "I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me."
See the rest of the story at Business Insider
No comments: