- President Donald Trump has begun to tweet frequently about the
stock market again.
- Trump’s eight stock tweets in October is the most about the
market in one month since December 2017.
- The tweets also come as Trump is trying to drum up Republican
support heading into the midterms.
- The stock market is still up significantly since Trump’s
election, despite some recent struggles, so the president may see
it as a good sales pitch.
After months of relative silence on the topic, President Donald
Trump is once again tweeting about the stock market’s strength in
the run up to the midterm elections.
“Stock Market up more than 400 points yesterday. Today looks to
be another good one,” Trump tweeted Wednesday. “Companies earnings
The message follows a double dose of stock market commentary
from Tuesday in which the president attempted to
pin the recent swoon — October is on track to be the
worst month for the market since 2010 — on the Federal
Reserve and Democrats.
“The Stock Market is up massively since the Election, but is now
taking a little pause – people want to see what happens with the
Midterms,” Trump said. “If you want your Stocks to go down, I
strongly suggest voting Democrat.”
few Wall Street watchers believe that Democrats
possibly retaking the House, as most
forecasts suggest, is the reason for the sell-off, the
president’s message seems to dovetail with
other recent tactics the president has used to drum up support
for the GOP.
The recent tweets are set to make October the most
market-focused month for Trump in nearly a year.
Looking at mentions of the words
“stocks,” “stock market,” or one of the major US indexes (Dow Jones
industrial average, S&P 500, or Nasdaq), Trump has tweeted
about the market eight times so far in October. That’s the most
mentions in a month since December 2017, when the president
mentioned the market 15 times:
- The uptick is also noticeable compared to the period after the
market’s swift sell-off in February.
- From that month — when the Dow was
roughly 3,000 points from its highs — through July, Trump
tweeted about the market just seven times total for an average of
1.2 stock tweets per month.
- That’s a far cry from the nine tweets per month about the
market during the preceding six months.
- But with the midterms approaching and the market picking up in
August and September (four stock tweets apiece those months), Trump
has suddenly started using stocks as a sales tool again.
Trump seemingly believes that stocks, which are still up
significantly since the 2016 election, are a good selling point.
And with the GOP on their heels on healthcare and struggling to
sell their tax reform bill, going back the market’s success may be
his best strategy.
Source: FS – All – Interesting – Lifestyle
Trump is zeroing in on one of his favorite topics as the midterm elections near