President Trump talked up the strength of the stock market Thursday morning, and took credit for an increase in consumer and corporate confidence he believes will be strengthened by his plans for tax reform.
“Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism – even before tax plan rollout!” Trump tweeted.
Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism – even before tax plan rollout!
— Donald J. Trump (@realDonaldTrump) February 16, 2017
The Nasdaq index, which is made up of tech companies, is on a streak of seven consecutive highs. That’s the longest streak since the dot com bubble burst in the late 1990s, CNN reported Wednesday.
According to the report, the Dow Jones Industrial Index and the S&P 500 are also at record highs and for the last five days each of the three indexes have closed at record highs. That’s the first time that’s happened in 25 years.
CNN reported tech companies could all benefit enormously if Trump’s tax plan helps them bring back some of the money they have sitting overseas. It’s not clear when Trump plans to roll out his tax reform plan.
