- Former President Donald Trump tried to take credit for the stock market’s gains under President Joe Biden.
- Trump claimed that investors are betting he will win the 2024 presidential election.
- Key stock market indexes have hit record highs this year, while a series of positive economic developments have tamped down fears of a recession.
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Former President Donald Trump on Monday admitted that the stock market is on the rise under his successor, President Joe Biden — but Trump still tried to take credit for it.
“THIS IS THE TRUMP STOCK MARKET,” Trump claimed in an all-caps Truth social post, “BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP.”
Trump cited no evidence to back up the claim that investors are buying into the stock market now in anticipation that the Republican ex-president will beat the Democratic incumbent in an election nearly 10 months away.
A spokesman for Trump did not immediately respond when asked if he could provide sources to support Trump’s claim.
The Dow Jones Industrial Average swelled to 38,000 for the first time Jan. 22, marking a 1,000-point jump in just 40 days. The S&P 500 hit a record high Jan. 19, which confirmed a new bull market.
Same old playbook. He did the same thing before.
If my math is right, the Dow was 30,000 shortly after Biden was elected and Trump took credit for it and now it’s 38,000, over a 21% increase in just over 3 years. That’s huge, especially with taming of inflation.
So that translates to a 21% increase for the people right?
Stock markets and GDP are so detached from what people go through these days that I wonder why anyone gives a shit if they go up.
The average (and median) US citizen does have 401k savings that track with market performance. It’s a flawed metric, but far from useless either.
Bout to sew my kid’s shoes back together right now. I guess those dudes in suits are doing pretty good though.
Frankly people should repair their shit more often IMO, mind you in highschool I stubornly maintained my boots with duck tape.
Quack!
Yeah a lot of people don’t realize that it’s duct tape.
No. Not even close. In the past 3 years my 401k has gone up literally over 100%
I’ve got about half my 401k in sp500, as well as a few grand independently in an sp500 index.