The US Market Since the Election of Trump
President Donald Trump officially took up offices in the White House as president of the United States in January 2017, having been elected to the position in November 2016. While the win came as a surprise to many, many others were ready for a change in administration and embraced the change with the hope for a better economy and a better life for American citizens. Donald Trump’s election has certainly affected the US economy and indeed both the local and international financial markets.
Immediately following the president’s inauguration in January 2017, the stock market rallied with the Dow Jones Industrial average surpassing the 20,000 mark by the middle of that week. This was contrary to what was expected by many who had anticipated investor confidence to plunge with the new president taking the lead of the US.
More recently, equities have begun to soar again following the hopes of tax reform and as a result of the outcome of the French elections. The Nasdaq has just crossed the 6,000 mark in keeping with the confidence that investors have expressed concerning promised tax reform measures. The Dow Jones Industrial average and the S&P 500 have also established gains following the tax reform indications by President Donald Trump.
Some analysts have stated that the gains in the stock market during the first 100 days of the president’s tenure, have exceeded what other Republican presidents were able to accomplish in previous presidencies. The stock market is now in high anticipation mode as several companies will announce their latest results and their forecasts for the rest of the year during the week ending Friday April 28, 2017. These include blue chip companies like Amazon, Google, Exxon Mobil, Ford, Microsoft, AT&T, McDonalds, Starbucks, Coca Cola and many others.
- Disclaimer: This article is not intended to replace counselling with a professional.