Surprise, Surprise: Trump's Election Win Might Be Boosting the Economy
What to say to your friends who want to talk about the stock market
The Short of It:
Yesterday, the Dow closed above 19,000 for the first time. Ever.
The Longer Version of It:
Stocks have on a hefty incline since Trump's win for the presidency happened earlier this month. According to some investors, Trump's proposal to decrease regulations, increase infrastructure spending, and restructure Obamacare will give the economy a boost. The US economy's current performance is looking better than it has in years, which also gives it a leg up. As for now, it's unclear whether Trump will follow through on his policy promises, but for now, the stock market's looking like a yes.
Also yesterday, Trump said he might not actually prosecute Hillary Clinton after all. While campaigning, Trump said he'd appoint a special prosecutor just for Clinton to investigate her use of a private email server while she was secretary of state. He also said he'd look into potential conflicts of interest within the Clinton Foundation. Now that's all in the past. Meanwhile, news broke yesterday that the Trump Foundation had broken some tax rules that prevent nonprofit leaders from using charity money for their own benefit.
It looks like the US stock market is giving the Trump presidency the go-ahead. What's more, Trump is softening his past stance on many of the key policy issues he was elected on. We'll have to see how long both last.