By: Kyle James | 08-25-2018 | News
Photo credit: Jason Heuser

The Trump Economy: S&P 500 Closes At Record High

While the mainstream media is busy criticizing Trump at every turn, the average taxpaying American worker knows the truth because they live on the ground level and see the effects of the Trump administration on their lives. More jobs are being created in multiple industries and American companies are moving jobs back to the country pace not seen in years.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">BREAKING: Wall Street&#39;s benchmark S&amp;P 500 index closes at an all-time high, topping its January record; Nasdaq also at record.</p>&mdash; The Associated Press (@AP) <a href="">August 24, 2018</a></blockquote>

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The S&P 500 is proof of the Trump administration's hard work taking effect as it closed Friday after its longest bull-market run closing even above its previous high in January. Federal Reserve Chairman Jerome Powell confirmed the U.S. central bank's current pacing of rate hikes. The S&P 500 stock market index had least made a new high on January 26 before pulling back around 10%. The massive bull run over the last six months and new high reached Friday confirmed the bulls are still in control.

Related coverage: <a href="">President Trump Fires Long-Range Tariffs on 279 Chinese Products to Put America First</a>

Powell spoke at a research symposium in Jackson Hole, Wyoming saying the Fed's gradual increase in interest rates were the best way to facilitate the economy's recovery and keep job growth rates strong all while keeping inflation under control. Not an easy task and certainly not the doomsday scenario that the mainstream media promised America when Trump was elected President.

Investors say that Powell's remarks are reassuring and coincide with previous comments from the Fed regarding their plans to gradually increase interest rates. Chief market strategist at Bruderman Asset Management in New York Oliver Pursche said, "That’s what the markets wanted to hear. The economic data and strong environment as a whole is the basis, and Powell didn’t get in the way."

Related coverage: <a href="">Traitor GOP Rep. Yoder (R-KS) Pushes Near-Amnesty HR392 Amendment Stealing American Jobs</a>

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">.<a href="">@cvpayne</a> provides an after hours stock update as the S&amp;P 500, Nasdaq, and Russell 2000 all have record closes. <a href=""></a> <a href=""></a></p>&mdash; FOX Business (@FoxBusiness) <a href="">August 24, 2018</a></blockquote>

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The Dow Jones Industrial Average .DJI also rose 133.37 points, or 0.52 percent, to 25,790.35 while the S&P 500 .SPX gained 17.71 points, or 0.62 percent, to 2,874.69. The Nasdaq Composite .IXIC also added 67.52 points, or 0.86 percent, to 7,945.98 putting total gains for the week at 0.47% for the Dow, 0.87% for the S&P, and 1.66% for the Nasdaq.

Powell's remarks also helped boost energy and materials stocks at a time when oil and metal prices are rising. Netflix Inc (NFLX.O) also rose a healthy 5.8% after SunTrust Robinson Humphrey upgraded the stock to a "buy". Humphrey was also adamant that third-quarter subscriber growth would meet or exceed Wall Street estimates.

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4 Comment/s
Anonymous No. 34995 2018-08-25 : 02:46

Major Sassypants, the stock market has ABSOLUTELY NOTHING to do with our true economy

Anonymous No. 34998 2018-08-25 : 03:02

34995 you're a moron if you actually believe that,

Anonymous No. 35010 2018-08-25 : 05:15

People are confident though. Good and Silver have been dropping like crazy the last two months. Silver is still an especially great investment. It will pay off massively in 10-20 years

Anonymous No. 35046 2018-08-25 : 07:50

34995 your a moron!

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