Although many economists have been promoting the argument that former President Donald Trump will have a negative impact on the US economy, the stock market has been buoyant as Americans expect the economy to improve following Trump’s election victory. is soaring.
Both ABC News and The Economist investigate wall street journal have proposed President Trump predicted that through tariffs and deficit spending, he would exacerbate inflation and harm the economy. Nevertheless, U.S. investors and business leaders appear bullish on Trump’s return as president, given the value of U.S. stocks. rising Wednesday’s more than $1.6 trillion rise in stock prices was the fifth largest single-day stock market gain in history, with a variety of large companies also participating. Congratulations The next president. (Related: Stock market soars, US dollar soars after President Donald Trump’s victory)
“Investors are happy,” said Jack Ablin, chief investment officer at Cresset Capital in Chicago. said W.S.J.
Corporate media has also criticized the president-elect on the economy, as Bloomberg Opinion Editor-in-Chief Robert Burgess notes: write In September,[Trump] They’re reusing ideas that didn’t work the first time,” CNN claimed In October, President Trump predicted that “American CEOs don’t have the energy” to retaliate.
Mr. Trump’s victory in the White House election prompted a surge in stock prices, with the blue-chip Dow Jones Industrial Average soaring more than 1,500 points. The S&P 500 rose 2.53%, its best day since the election. pic.twitter.com/347NkIMIel
— Sheehy Strategy Group (@SheehyStrategy) November 7, 2024
Dow Jones Industrial Average stood up It closed at a record high of 3.5% on Wednesday. The S&P 500 and Nasdaq also rose, surging 2.5% and 2.95%, respectively.
The rise in the stock market is due to “expectations for strong domestic growth; [mergers and acquisitions] A group of UBS strategists said the factors include economic activity, an extension of the personal tax cut and expectations for lower corporate taxes. I wrote In a note to the client.
President Trump signed the Tax Cuts and Jobs Act on January 1, 2018, lowering the corporate tax rate from 35% to 21%. top marginal tax rate From 39.6% to 37%. The president-elect will also succeed FTC Chair Lina Khan. helped lead Efforts by the Biden-Harris administration to curb merger and acquisition activity.
Meanwhile, the value of the US dollar soared following President Trump’s victory. Post This was the largest profit in eight years.
Many business giants Congratulations After winning the presidential election, President Trump, Amazon CEO Jeff Bezos, Apple CEO Tim Cook, etc. goldman sachs CEO David Solomon and Open AI CEO Sam Altman.
“Congratulations President Trump on your victory!” Cook wrote. post X Wednesday. “We look forward to working with you and your administration to ensure America continues to lead and promote ingenuity, innovation, and creativity.”
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