Trump Era: Stocks Soar During Holiday Shopping Season

Yes, you have heard this before. The stock market under Trump is booming. This is also the first shopping season of the Trump administration and the people are very optimistic about their financial futures this year.

Breitbart reports: 

The Nasdaq composite climbed one-third of a percentage point, hitting intraday and closing records. Shares of Amazon rose 2.6 percent.

Trending: TREY GOWDY: Trump’s Declassified Docs Are Going To Embarrass The FBI, John Brennan

The S&P 500 also closed at a record high of 2602.42, a 0.21 percent gain. Shares of retail giants like Macy’s, Nordstrom, and Kohol’s all rose. Shares of Target fell.

The Dow Jones Industrial Average rose 0.14 percent, closing just short of its record high.

The DOW.NASDAQ and S&P are up 31%, 36%, 25% respectively.

Telegram.com has this data as to why things are up.

The 4.1 percent jobless rate is at a 17-year-low and consumer confidence is up from last year, leading analysts to project healthy sales increases for November and December.

The National Retail Federation trade group expects sales for that period to at least match last year’s rise of 3.6 percent and estimates online spending and other non-store sales will rise 11 to 15 percent.

The federation also estimated that of 164 million Americans planning to shop this weekend, 70 percent, or 115 million, would do so on Black Friday.

What a difference an election makes.

Image: Source

 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.