“Teflon Don” strikes again.
Despite being impeached by the House of Representatives on Wednesday, the Trump economy soared to new heights on Thursday, reaching record highs for the stock market.
According to Forbes, “the Dow Jones Industrial Average and S&P 500 rose by 0.4% and 0.3%, respectively, both hitting new all-time record highs.”
Additionally, investors believe that the market will continue to see gains.
“We’ll see short-term market moves on a day-to-day basis, but for now, provided no smoking gun news comes out before the Senate trial, I think the market will react as it has so far,” stated Paul Hickey, the cofounder at Bespoke Investment Group.
“Markets should not see much of a reaction with the President’s impeachment saga as it is unlikely for the Democrats to get two thirds of the vote in the Senate to convict Trump,” Edward Moya, senior market analyst at Oanda, predicts.
The Trump economy has been blowing projections out of the water for years now. With incredibly-low unemployment across all demographics and major increases to the median household income average, the 2020 election will be tough for Democrats with Trump maintaining control of such strong numbers.
Barring anything unexpected and catastrophic happening, America is looking to build on the success of the Trump tax cuts and slashed red-tape.
While House Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, and their Democrat colleagues seem to have very little faith in Trump, the private sector is enjoying what the president has done in just his first three years in office.
What do you think of these staggering new numbers from the stock market and how they will impact the 2020 election? Lets know in the comments and be sure to vote in our daily poll below.