- President Trump is once again taking credit for new all-time highs in the Dow
- Trump is positioning himself in a win-win scenario as his impeachment inquiry continues.
- Some Twitter followers credit the gains to his potential impeachment.
President Trump is once again a leading cause for the latest surge in U.S. stocks. Or so he claims. The Dow Jones Industrial Average (DJIA) closed near session highs on Friday and held above 28,000 to close the week at the highest level in recorded history.
That was enough impetus to challenge his Democratic critics on Twitter where he once again cheekily referred to Rep. Adam Schiff as “Schitt.” According to his Saturday morning post, an impeachment would lead to the greatest depression the U.S. has ever experienced:
Despite a boom in major U.S. indices, the president appears to have ignored other crucial areas of the economy. On Friday CCN reported that a manufacturing recession already puts the U.S. economy on track for its worst quarter under Trump.
Trump’s Claims Yo-Yo With the Stock Market
Global markets analyst Charlie Billelo last week noted the frequency of Trump’s tweets in relation to an almost daily close on the indices. As the impeachment inquiry continues, followers should expect more of the same antics via the short-form social media platform.
The president has thus far positioned himself in a ‘heads I win, tails you lose’ scenario. For now, at least, the bulls are firmly in his corner.
The Dow Jones Industrial Average closed the week some 419 points higher, or 1.52%, at 28,000.41.
Of the three major US stock market indices, the Nasdaq outperformed by crediting investors with a five-day turnaround of 3.21%. The S&P 500 brought up the rear rallying 1.28%.
Some Followers Credit Potential Impeachment for the Stock Market’s Gains
While a few Twitter followers credited…