President Trump’s positive impact on the economy and markets is unassailable.
Except for a short disruption in February, the major stock market indices have been on a steady ascent since Donald Trump’s formal selection as the Republican nominee for president. The Nasdaq Composite Index has sailed from 5036.37 on July 19, 2016 to 7637.86 at the closing bell on Tuesday – continuously meeting and exceeding record highs along the way.
We have seen similar market trends in the Dow Jones Industrial Average and the S&P 500, which have climbed from 18559.01 and 2163.78 on the day Trump was nominated to 24799.98 and 2748.8 by Tuesday, respectively.
This market strength (especially the Nasdaq’s) is a really big deal. We are in an age of massive technological advancement and innovation that could potentially catapult our society into a new era of global leadership. Advancements in driverless cars, artificial intelligence, computing power, and helpful uses for big data will bring about changes in virtually every aspect of our lives, including health care, transportation, communication, and commerce. The Nasdaq tracks almost 3,000 mostly technology-focused companies which are working on these dramatic innovations. This includes America’s five largest big tech companies – Amazon (AMZN), Alphabet (GOOG, GOOGL), Apple (AAPL), Facebook (FB), and Microsoft (MSFT).
I had a great Facebook Live conversation Tuesday with Terry Campbell, Nasdaq’s vice president and head of government relations. We talked about the amazing comeback that the American economy has been seeing under President Trump and the Republican leadership.
As I wrote in my new book, Trump’s America: The Truth About Our Nation’s Great Comeback, our Gross Domestic Product (GDP) has been on the rise. Despite a summer of devastating hurricanes that caused billions of dollars in damage and job losses in at least three states, Puerto Rico, and the U.S.