Trump Touts Stock Market; Calls Russia Story 'A Hoax'
President Donald Trump Saturday announced through Twitter that the stock market is at an all time high — "despite the Russian hoax story" — and that job numbers are looking good.
Stock Market hit another all-time high yesterday - despite the Russian hoax story! Also, jobs numbers are starting to look very good!
— Donald J. Trump (@realDonaldTrump) July 15, 2017
His comment came after a Dow Jones story on Saturday, reported through Fox Business News, that noted Wall Street analysts' forecasts are projecting earnings of near double digits, which would put the second quarter reports at among the best place since the fourth quarter of 2011.
He later tweeted this after arriving at the U.S. Women’s Open golf tournament in New Jersey:
Just got to the #USWomensOpen in Bedminster, New Jersey. People are really happy with record high stock market - up over 17% since election!
— Donald J. Trump (@realDonaldTrump) July 15, 2017
According to John Butters, senior analyst at FactSet, earnings per share were projected to climb by 6.5 in the quarter of April-June, but said the actual increase could go above 9 percent.
Karyn Cavanaugh, a senior market strategist at Voya Financial, who predicted earnings growth of 6 percent to 7 percent, was also optimistic about the second quarter results.
"The canary in the coal mine is earnings and the canary is singing a very sweet song right now," said Cavanaugh.
On Friday, stocks rose, with the S&P 500 and the Dow closing at record highs, and the Nasdaq finished within 10 points of its all-time high close.
The other part of Trump's first tweet, about the "Russian hoax story" came as further details emerge about a meeting arranged last June between his son, Donald Trump Jr. and Russian attorney Natalia Veselnitskaya, through promises she had negative information to share about then-Democratic presidential candidate Hillary Clinton.
On Saturday, CNN reported the meeting held at Trump Tower with Donald Trump Jr., Jared Kushner and Paul Manafort included at least eight people, not four, as had initially been reported.
The Associated Press reported Friday that a Russian-American lobbyist named Rinat Akhmetshin said he also attended the June 2016 meeting with Trump Jr., after NBC News reported that another, unnamed person who had been connected in the past with Russian counterintelligence, was in the room.
According to CNN, Trump Jr., Trump son-in-law Jared Kushner, campaign manager Paul Manafort, Veselnitskaya, Akhmetshin and publicist Rob Goldstone, who had helped set up the meeting between Trump and the attorney, have been confirmed to have been in the meeting.
A source close to the story said there were at least two other people in the room as well, a translator and person representing a Russian family who had asked Goldstone to set up the meeting. No additional names have been provided.
Related Stories:
Report: Obama's DOJ Let Russian Lawyer Into US http://www.newsmax.com/t/newsmax/article/801837/1
Stock Market hit another all-time high yesterday - despite the Russian hoax story! Also, jobs numbers are starting to look very good!
— Donald J. Trump (@realDonaldTrump) July 15, 2017
His comment came after a Dow Jones story on Saturday, reported through Fox Business News, that noted Wall Street analysts' forecasts are projecting earnings of near double digits, which would put the second quarter reports at among the best place since the fourth quarter of 2011.
He later tweeted this after arriving at the U.S. Women’s Open golf tournament in New Jersey:
Just got to the #USWomensOpen in Bedminster, New Jersey. People are really happy with record high stock market - up over 17% since election!
— Donald J. Trump (@realDonaldTrump) July 15, 2017
According to John Butters, senior analyst at FactSet, earnings per share were projected to climb by 6.5 in the quarter of April-June, but said the actual increase could go above 9 percent.
Karyn Cavanaugh, a senior market strategist at Voya Financial, who predicted earnings growth of 6 percent to 7 percent, was also optimistic about the second quarter results.
"The canary in the coal mine is earnings and the canary is singing a very sweet song right now," said Cavanaugh.
On Friday, stocks rose, with the S&P 500 and the Dow closing at record highs, and the Nasdaq finished within 10 points of its all-time high close.
The other part of Trump's first tweet, about the "Russian hoax story" came as further details emerge about a meeting arranged last June between his son, Donald Trump Jr. and Russian attorney Natalia Veselnitskaya, through promises she had negative information to share about then-Democratic presidential candidate Hillary Clinton.
On Saturday, CNN reported the meeting held at Trump Tower with Donald Trump Jr., Jared Kushner and Paul Manafort included at least eight people, not four, as had initially been reported.
The Associated Press reported Friday that a Russian-American lobbyist named Rinat Akhmetshin said he also attended the June 2016 meeting with Trump Jr., after NBC News reported that another, unnamed person who had been connected in the past with Russian counterintelligence, was in the room.
According to CNN, Trump Jr., Trump son-in-law Jared Kushner, campaign manager Paul Manafort, Veselnitskaya, Akhmetshin and publicist Rob Goldstone, who had helped set up the meeting between Trump and the attorney, have been confirmed to have been in the meeting.
A source close to the story said there were at least two other people in the room as well, a translator and person representing a Russian family who had asked Goldstone to set up the meeting. No additional names have been provided.
Related Stories:
Report: Obama's DOJ Let Russian Lawyer Into US http://www.newsmax.com/t/newsmax/article/801837/1
President Donald Trump Saturday announced through Twitter that the stock market is at an all time high — "despite the Russian hoax story" — and that job numbers are looking good.
Stock Market hit another all-time high yesterday - despite the Russian hoax story! Also, jobs numbers are starting to look very good!
Such an embarrassment to have a President with the fragile ego of an immature 4 year old and all of his toadies letting him get away with such foolishness.
"Mommy isn't this the BEST cake that EVER WAS!?"
"Mommy aren't all my friends just the SMARTEST people that EVER WERE?!"
"Mommy isn't mine, (stock market), just the biggest, hardest thing anyone has ever seen!?"
Yes little Johnny that's all true and you also have the largest hands of ANY President EVER!
Of course Trump is full of it and his enablers are only helping him to hurt the Country.
Current job numbers are still residuals from Obama's time in office and there is no "Hoax Russian story", just real detail after detail of Russian interference at all levels in the last election, including within the Trump campaign organization itself.
The Obama bull market: A 140% jump in the Dow
If Donald Trump is lucky, he may never be faced with a market crash as gruesome as the one that welcomed President Barack Obama when he first took office in 2009.
Stocks, which already had plunged in 2008 in the wake of the financial crisis, continued to collapse in the first few weeks after Obama was inaugurated. The Dow plummeted 20% from mid-January to early March 2009.
But as anyone who follows stocks closely knows, the market bottomed in March 2009 and has been off to the races ever since.
With that in mind, it may be tough for stocks to enjoy nearly as explosive a rally under Trump in the next four (or eight) years as it has during Obama's tenure.
The Dow has gone up more than 140% since Obama's inauguration in January 2009.
After all, consider that the Dow went up more than 130% during Ronald Reagan's two terms.
And it rose more than 225% during Bill Clinton's eight years in office.
This Chart Shows How Trump's Stock Market Gains Compare to the Last 13 Presidents
Paul J. Lim
Apr 27, 2017
How Does Trump Stack Up Against Other Presidents?
Thanks to a last-minute rally — the Dow surged more than 500 points in the past nine trading days, in anticipation of the White House's tax cut proposal — stocks are on the verge of having gained about 5.5% in President Trump's first 100 days in office.
If this trend holds through the end of the trading day on Friday, Trump would rank second among Republican presidents and fifth overall in terms of stock market gains in the early days of a new administration — behind George H.W. Bush and ahead of Harry Truman.
How Are U.S. Stocks Doing Compared to the Global Markets?
The Trump administration's motto so far has been America First. Yet when it comes to the stock market's performance, it's been more like America in the Middle.
While U.S. stocks have generally performed well under Trump in the early days of his administration, foreign equities have done much better. In fact, stock markets in several countries that Trump has been highly critical of are actually leading the world.
Since Trump took office on Jan. 20, for example, Mexican stocks have gained a whopping 22%. France's stock market is up nearly 12%. Chinese shares are up more than 10%, while German equities are up around 9%.
Since the day after Trump was elected the markets are up some 17%, this after the Dow futures on election night when the upset became a possibility were initially down 800 points. The Trump rally fed by deregulation and hope for tax cuts is on.