Spending any amount of time watching (or reading) popular news media would quickly give the indication that the Trump administration is falling apart, and with it, the nation. The truth, however, does not so easily conform to the propaganda narrative of the American political left. Since Donald Trump’s election, the stock market has continuously hit record after record, and continues to do so today, with the Dow Jones Industrial Average coming close to breaching the 22,000 mark.
Despite this exceptionally good news for US markets, media outlets continue to add the complicit anti-administration spin of success “in spite of” the Trump shenanigans in the White House, rather than as a result of implemented policies (or those in the process of being implemented). CNBC “reports:”
The Dow, along with the Nasdaq and the S&P, notched record highs in July as investors shrugged off news of the turmoil in Washington as well as geopolitical tensions. The White House is once again on Wall Street’s radar after the recently appointed communications director Anthony Scaramucci was fired on Monday. He was in the position for 10 days.
“The market wanted to go up and did, posting five new closing highs in July, as it continued to watch the Floor, rather than the man or groups in Washington,” Howard Silverblatt, senior Index analyst at S&P Dow Jones Indices.
Earnings season is well under way with most companies topping expectations. Seventy-three percent of the S&P 500 companies that had reported as of Friday had topped estimates on both the top and bottom lines, according to data from FactSet.
What do you think? Will the markets continue to rise as the president attempts to implement his legislative and policy agenda? Will we see a sharp correction? Let us know on Facebook or in the comments below.