Update from Trump on the stock market on 1/5/2018 2:26PM EST
We set new records and I think well continue to be set, the tax cuts are really kicking in far beyond what anyone thought. Numerous companies have today come out and announced that they’re going to make big payments to their employees something that nobody really had in mind. So we’re very honored by it. But the market is good. The jobs reports was very good and we think they’re going to get really good over the next couple of months. So again we’re going to Camp David with a lot of great Republican senators and we’re making America great again.
Trump just got involved in market forecasting – no price target for S&P 500 but he does have one for the Dow Jones Industrial Average and its 5,000 points from the current level which just hit 25,000 – It sounds like a bit of technical analysis than fundamental although it is unclear. Also, Trump made no comment on cryptocurrencies below is the transcript of the Trump call – but first politics aside I do not see what POTUS gains from this – if the DOW tanks he looks foolish and even if it goes up critics will claim he had nothing to do with it (I personally think whether it goes up or down has nothing to do with Trump and I have no idea if it will). However, maybe for the base it matters that it will make Trump look like a good businessman if he gets market calls right and maybe he is doing it to district from the Bannon feud or maybe the plunge protection team is coming in and Powell is going to – no clue – what do you think tell us below?
Donald Trump on Dow 30,000 next stop
We broke a very very big barrier 25000 and there were those who say we said we wouldnt break 25000 [even ]by the end of the eighth year [of the Trump presidency].
And we’re in the 11th month we broke 25000 just as we came in.
Now I have to be a little careful because as we walk out maybe it down as we walk out (laughter) have to be careful with that.
But we did in fact break 25000 very substantially break it very easily. So I guess our new numbers 30000. But what they what it means is every time you see that number go up on Wall Street it means jobs it means success, it means 401 k’s that are flourishing.