Donald Trump says stocks have hit records

Donald Trump says stocks have hit records ‘close to or over a 100 times’ since he took office — but he may be understating it

President Donald Trump on Wednesday said the stock market has delivered all-time highs around 100 times since he took office — a reference to records hit by the S&P 500 and the Nasdaq Composite Index a day earlier.

The stock market and our country, from an economic standpoint, is doing the best probably it’s ever done. We’re hitting new highs again. We’ve hit new highs, I guess, from the time of the election, close to or over a 100 times since I’m president.’

                                            President Trump

However, it turns out that the 45th U.S. president may be selling the market a bit short, at least by one measure.

Factoring the Dow Jones Industrial Average DJIA, -0.22% S&P 500SPX, -0.22% Nasdaq Composite COMP, -0.23% , Russell 2000 RUT, +0.19%Dow Jones Transportation Index DJT, +0.87% and the large-capitalization focused Nasdaq-100 NDX, -0.34% major stock gauges have registered 529 all-time closing highs since Trump’s surprise election win over Democratic rival Hillary Clinton on Nov. 8, 2016.

As measured by the point of his inauguration on Jan. 20, 2017, those equity benchmarks have produced 466 records.

Trump’s remarks came in front of reporters ahead of a trip to Atlanta with his wife Melania, and comes as the 2020 presidential race comes into greater focus. The president has closely hitched his claim for a second term on how Wall Street performs, viewing it as a key barometer of his own performance.

On Tuesday, the S&P 500 index registered its first record since Sept. 20, while the Nasdaq notched its first all-time closing record since Aug. 29.

 

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