Tags: Donald Trump | CFO | donald trump | credit | stock market | highs | poll

Poll: 77% of CFOs Say Trump Deserves Credit for Stock Market Highs

Poll: 77&#37 of CFOs Say Trump Deserves Credit for Stock Market Highs
(Ron Sachs/AP)

By    |   Monday, 18 September 2017 09:01 AM

President Donald Trump deserves at least some of the credit for the stock market rising to record highs, according to 77 percent of respondents to this quarter's CNBC Global CFO Council poll released on Monday.

However, 0 percent said he deserves all the credit, while 20 percent said Trump deserves none of the credit. Sixty percent said the president should get some of the credit, while 17.1 said he deserves most of the credit.

Trump and other members of his administration have consistently touted the stock market highs as a measure of their success.

The CNBC Global CFO Council represents some of the largest public and private companies in the world, across a wide variety of sectors.

Other results from the survey, which was conducted from Sept. 5-13, include:

  • The CFOs give Trump much less credit for other economic milestones, with 51.4 percent saying he deserves none of the credit for declines in the unemployment rate, and 0 percent saying the president should receive all or most of the credit for this. However, 45.7 percent of the respondents said he deserves some of the credit.
  • CFOs also gave Trump less credit for another achievement he consistently touts, the 1.2 million jobs created since he took office. Zero percent said he deserves all of the credit for this, while only 5.7 percent said he deserved most of the credit. Almost 43 percent said Trump did deserve some of the credit for the jobs created, but 45.7 said the president deserved none of the credit.
  • Regarding 3 percent GDP growth in the second quarter, while 48.6 percent said Trump deserved some of the credit, 0 percent gave him all the credit and only 8.6 percent said the president deserved most of the credit. More than 37 percent gave Trump none of the credit for the GDP growth.
  • Asked to name the Trump administration's achievement that will have the most positive impact on their company over the next year, 74 percent cited deregulation, while no other response even received double digits. The appointment of Neil Gorsuch to the Supreme Court was second at 8.6 percent.
  • When asked to name the Trump administration's most negative impact on their businesses over the next year, three separate issues received double digits, led by withdrawal from the Trans-Pacific Partnership Agreement on trade at 28.6 percent. More than 17 percent cited the withdrawal from the Paris climate accord as having the most negative impact and 11.4 percent said the president's ban on travel from some Muslim-majority countries.
  • Regarding Trump's campaign promises, the confidence that they will actually become law by the end of the year has declined significantly since March, when most thought that tax reform, a repatriation tax holiday and infrastructure projects would occur in 2017. In the latest survey, those believing that these promises will actually become law this year has fallen off to some 40 percent.

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President Donald Trump deserves at least some of the credit for the stock market rising to record highs, according to 77 percent of respondents to this quarter's CNBC Global CFO Council poll released on Monday.
CFO, donald trump, credit, stock market, highs, poll
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2017-01-18
Monday, 18 September 2017 09:01 AM
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