Billionaire investor Carl Icahn Saturday attributed the recent Wall Street surge "completely" on Donald Trump because investors believe that the president-elect is "really going to be more friendly with business."
"It is completely related to Trump," Icahn, 80, the activist shareholder who also is an adviser to the president-elect, told Poppy Harlow on CNN. "The world believes that things are going to be very bright.
"There are many problems ahead, many bumps in the road," he cautioned. "Donald is completely on the right track in the things he is trying to do.
"Obviously, it will be difficult to do a lot of them — and there will be bumps on the road."
Wall Street has surged since Trump's election on Nov. 8, with the Dow Jones industrial average pushing 20,000 for the first time on Friday before settling at 19,756.85, up 142.04 points.
Icahn said that Trump's planned Cabinet nominees — as well as his efforts to keep Carrier from moving 1,100 jobs from Indiana to Mexico — signaled that "the government is not going to fight business.
"He says to Carrier: 'Don't leave. Things are going to change.' That is a good thing.
"This country is showing business and having business perceive the government is not your enemy," Icahn told Harlow. "It is your friend. If it is your friend, it is not going to have crazy regulations.
"He is conveying that we are going to do things to stimulate business and help invest," he added. "You want business to invest."
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