Hey, it's something. Powered by the revalation that the President of the United States can actually read off a teleprompter (remember when that was considered a BAD thing?), the DOW took a nice healthy boost to loft itself to another milestone.
OK, it's more than that. Part of it is that the administration is now filled with people FROM Wall Street who promise to not investigate Wall Street EVEN HARDER than previously. Add to that others running the government who seek to reduce the influence of consumers, minorities, safety, and/or the environment. Plus, we have a president who likes to sign bills, get applause, and be photographed with important business leaders (the actual job of being president - not so much). So Wall Street is getting the go-ahead to engage in the very behavior that almost laid us low more than eight years ago, though I'm SURE they will have learned their lessons from that previous debacle well.
I will admit, not all is rosy. Flights are seeing more empty seats as people are less likely to travel if they are being hassled at the US airports. Agriculture that relies on migrant workers is discovering their workforce is staying away from the fields (perhaps they can ask those nice people from ICE to lend a hand). And in the tech industry, the status of foreign workers is screwing up day-to-day operations (Amazon called back everyone from overseas that might have trouble returning in a more hostile environment).
And of course, at any time, a mean tweet from the White House can send stock prices spiraling. But he can't get EVERYONE all the time, so those who are willing to send their CEOs to smile and make nice will likely avoid the stinging lash of retribution. You aren't a CEO? Well, that's not Wall Street's problem, is it?
SUMO: Haru Basho 2018 (Day 11) - It’s Day 11 of the Haru Basho and we’ve has a very sudden and very extensive shift on the leaderboard. If you’ll remember, yesterday at this time we had tw...
1 day ago