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Tags: Stephen Moore | economy | stock market | Trump Effect

Stephen Moore: Stocks Have Gained $2 Trillion in Wealth Since Trump Elected

Fox Business Network's "Risk & Reward"

By    |   Wednesday, 25 January 2017 09:09 PM

Economist Stephen Moore said stocks have gained $2 trillion in wealth since President Donald Trump's election Nov. 8.

"This could be the start of a big bull market rally," Moore said Wednesday on Fox Business Network's "Risk & Reward."

The Dow Jones industrial average hit 20,000 for the first time Tuesday after flirting with the number for the past few weeks.

"I don't think there is any question the 10 percent rise in the stock market since the election day is in large part a Trump rally," said Moore, who was an adviser to the Trump transition. "Some of the investors were worried whether Trump would be able to do the things he said he was going to do. Now they are seeing it firsthand."

Executive actions, including on the Keystone XL pipeline, are making investors feel better, he said.

"I am not saying there won't be jerky movements in the Dow," Moore said. "But the general trend will be upward."

Moore said, while he is not always right, his market predictions following Trump's victory were correct, unlike liberal billionaire donor George Soros, and economist Paul Krugman, who predicted a Trump win would cause a market plunge.

"One of the reasons the Democrats lost this election is they stopped worrying about the things that American hard-hat union members care about," Moore said. "They care about jobs and income. They want energy projects and pipeline built."

Democrats have instead become "subservient" to billionaire Tom Steyer and other climate-change advocates.

Workers want jobs, Miller said, and not "to be sacrificed at altar of your radical climate-change agenda."

© 2022 Newsmax. All rights reserved.


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Economist Stephen Moore said stocks have gained $2 trillion in wealth since President Donald Trump's election Nov. 8.
Stephen Moore, economy, stock market, Trump Effect
265
2017-09-25
Wednesday, 25 January 2017 09:09 PM
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