Politics

Trump Economy Roars to New Record Highs on Wall Street and Beyond

This is simply another piece of proof that The Trump Effect is very, very real.

December 26, 2019

President Trump may not be a very traditional Commander in Chief, but that doesn’t mean that his background can’t help him to succeed.

This is the man who wrote The Art of The Deal, after all, and his business acumen was just one of the reasons why the nation was willing to take a chance on him in the Oval Office.

It has paid off immensely in 2019, as the American economy continues to be bolstered by what many are calling “The Trump Effect”.

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The Nasdaq crossed the 9,000-point mark for the first time on Thursday as all three major Wall Street indexes posted record closing highs, boosted by optimism over U.S.-China trade relations and gains in shares of Amazon.com after a report signaled robust online holiday sales.

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Traders returned from the Christmas break to digest comments from Beijing that it was in close contact with Washington about an initial trade agreement, shortly after U.S. President Donald Trump talked up a signing ceremony for the recently struck Phase 1 trade deal.

Cooling U.S.-China trade tensions have fueled the latest leg of Wall Street’s record-setting rally. With just days to go until the year-end, the benchmark S&P 500 is up 29% so far in 2019, which would be its biggest annual percentage gain since 2013.

The Nasdaq posted a record closing high for a 10th straight session, its longest such streak since 1997.

The news comes on the heels of an incredible “Super Saturday” sales surge just before Christmas, where American consumers spent a record $34 billion.

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