If tweets are any indication, the president's focus is shifting...
 | WED, MAY 15, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | PFE | 41.16 | +0.50 | +1.23% | | CSCO | 52.44 | +0.42 | +0.81% | | AAPL | 190.92 | +2.26 | +1.20% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 27.58 | +0.26 | +0.95% | | GE | 10.26 | -0.06 | -0.58% | | BAC | 28.30 | -0.32 | -1.12% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 27.58 | +0.26 | +0.95% | | CMCSA | 42.49 | -0.42 | -0.98% | | CSCO | 52.44 | +0.42 | +0.81% | |
| |
Two of President Donald Trump's priorities — a strong stock market and a trade deal — are at odds. The conflict is frustrating Wall Street as it tries to figure out which Trump sees as more important.
If tweets are any indication, the president's focus is shifting. In the past two weeks, his Twitter mentions of trade-related terms were double the references to the economy and stocks, as the chart below shows.
On one hand, Trump is appealing to his base with a tough stance on trade ahead of the 2020 election. But that is taking a toll on global growth expectations and the Dow Jones Industrial Average — Trump's go-to report card for a strong economy.
Analysts say the president's changing tune and surprise tweets make it "impossible" to advise clients. And as Fundstrat's Washington policy strategist, Thomas Block, said, if he knew the president's next move in this ongoing trade war, "Fundstrat would have to pay me more money than they could afford."
|
Post a Comment