President Trump’s unconventional path to the White House has been both a remarkable and difficult journey for many to watch. Nonetheless, a historic presidential victory that has left many stunned and not so speechless, per se. But as our 45th President, Donald Trump, has accomplished what no other businessman has been able to do — run for the most prestigious position in our land and win despite all the traction, scandals and negative press. While his “go-getter” attitude and beliefs may not resonate well with some voters, his economic growth policies have been appreciated by many others looking ahead to brighter days.
The Dow Jones Industrial Average broke over 20,000 points for the first time ever recorded.
Surprisingly, our new President has had quite an impact on markets already — shortly after just a few days in office. Just this past week, The Dow Jones Industrial Average broke over 20,000 points for the first time ever recorded. Markets began to rally soon after President Trump started signing executive orders. The S&P and Nasdaq Composite indexes, as well as other global markets also hit record highs. According to UK Telegraph, what makes the 20,000 level so important is, “…it represents a significant marker. It’s a “resistance level” that can be difficult to break through for human dealers who often trade on fears.”
This news should calm the apprehension shared by many investors during the unpredictability of the 2016 election and definitely improve confidence to some degree. But while the markets are rallying on a positive earnings momentum (mainly led by Goldman Sachs and JP Morgan) and new administration plans, we cannot forget that market volatility is the one predictable aspect we can almost always expect. We’re all hoping that a strong economic policy will restore investor confidence and continue moving our markets in an optimistic direction for the sake of our country and our pockets.
50 percent of voters felt more confident in Donald Trump when asked who they thought would be better for their investment portfolio.
In a June 2016 Bloomberg/Morning Consult national poll, 50 percent of voters felt more confident in Donald Trump when asked who they thought would be better for their investment portfolio. Only 30 percent picked Hilary Clinton and 17 percent were not sure. This survey also noted that investors with more than $50,000 in investments answered the question “almost identically as smaller investors.” Interestingly, the findings also stated that Independent voters were twice as likely to pick Trump as better for their portfolios.
It’s no surprise a lot of people have been frustrated with our country’s economic trajectory for quite some time. Most, if not all Americans across different tax brackets are hoping for the same — for policies that enable economic growth and increased wealth. It’s a large task at hand for the multi-billionaire business mogul turned POTUS, but if anyone can generate wealth, it’s Donald Trump.
While some skeptics may not necessarily care for the record numbers and suggest Wall Street’s market manipulation and interest with the new administration, many Americans are trusting Trump to come through on his promises and move our economy forward in a favorable direction.
Do you feel more confident investing now that Donald Trump is President?