Trump Rings Bell on Record Stock Market – But Will It Last?
Donald Trump celebrated a surge in the stock market on Thursday, ringing the bell at the New York Stock Exchange, as the market hit new highs since his election. The Dow Jones Industrial Average is set to end the year up 17%, while the S&P 500 has risen 28%, and the Nasdaq surged 40%. With the economy growing at 2.8%, low unemployment, and rising productivity, investors are optimistic that Trump’s policies will continue boosting the market.
However, analysts warn that these gains may not last. Job growth is slowing, inflation remains high, and Trump’s controversial policies, such as slashing government spending and erecting trade barriers, could pose risks to future growth. Mark Zandi of Moody’s Analytics stated, “The totality of the policies, if fully implemented, could be problematic for the economy.”
Trump focused on tax cuts and deregulation to boost corporate profits, which helped drive the market up during his first term, despite setbacks like trade wars and the COVID-19 pandemic. Stocks closed lower Thursday, with the S&P 500 and Dow down 0.5%.
Asked about investment strategies, Trump declined to offer advice, saying, “Long term, this is going to be a country like no other.”
