After initially falling during the evening of November 8th, stocks rebounded the next day to record levels and have continued to climb — as investors seem to maintain an optimistic outlook toward the Trump economy.
Small business owners are also reporting an implicit bullishness toward their future fiscal fortitude; as recent surveys of the group reveal a gearing up to add more employees to company rosters. The Wall Street Journal reports:
The National Federation of Independent Business monthly employment survey for November will show that owners of small firms are preparing for a better future. “A seasonally adjusted net 15 percent plan to create new jobs, up 5 points from October and the strongest reading in the recovery,” NFIB Chief Economist William Dunkelberg tells us. “Not seasonally adjusted, 17 percent plan to increase employment at their firm (up 3 points), and 9 percent plan reductions (down 1 point),” he adds … It is the signal on future hiring from NFIB that is most encouraging. The owners of public corporations and the owners of small private firms are now both expecting faster growth under Trumponomics.
What do you think? Is the surging stock market a continued vote of confidence from investors toward Trump’s fiscal leadership? Or is the phenomenon indicative of some other generally unforeseen circumstance? Let us know on Facebook or in the comments below.