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Home / US / President Trump in Florida and stock markets win for the second day: coincidence?

President Trump in Florida and stock markets win for the second day: coincidence?



It was a beautiful day in Palm Beach, Florida today, sunny and 74 degrees and tomorrow at maybe 80 high, according to weather.com. Pretty solid day also for the stock market. I'm just wondering if one has something to do with the other?

President Trump spends the week in Mar-a-Lago, his private country club, which he now calls the Southern White House. He had nothing to do with his schedule today, except to meet Japanese Prime Minister Shinzo Abe at 3 pm. and then having dinner with him and Ms. Abe at 7:30 tonight, even at the club. That was it.

Earlier in the day he tweeted twice that he was looking forward to the meeting. The White House also said today that the president has asked for an extension of his 201

7 taxes.

Welcome Prime Minister Abe! pic.twitter.com/538EYyfWDq

– Donald J. Trump (@realDonaldTrump) April 17, 2018

So nothing about trade wars, tariffs, currency devaluations, wars in Syria or north Korea or Iran from Occupier of the Oval Office. US stock indices rose in part due to better-than-expected Netflix (NFLX) earnings, helping US corporations such as UnitedHealth (UNH), General Electric (GE) and Cisco (

UnitedHealth is a stake in Jim Cramer's action Alerts PLUS

The large averages have become mainly positive for the year, and the S & P 500 has risen by its average price for the past 50 days, a level that has not reached in a month, and the VIX volatility index, Wall Street's "fear index" fell to its lowest level in a month for a sixth consecutive day.

The best companies are benefiting from the earnings that President Trump has put into place on the spot In which taxes are low, regulation is lax, enforcement is patchy and the labor movement is dead. It is worth repeating that current Conditions are more favorable for corporate profit interests than at any time in the US since the Golden Twenties or perhaps the Gilded Age.

That could form the basis for an argument that the president should spend much more time in his Southern White House or on the golf course, as he has a tendency to rattle markets when in Washington DC works As a resident of the White House, the head of the nation has a way of fueling all sorts of negative things, such as the exodus of about half of his senior executives within the first 15 months of his presidency.

This is not statistics Most US CEOs would be proud of it, but that's just another reason why this president is not like any other.

That's why Trump's tweet this morning blamed Russia and China for "playing the currency devaluation game" as much as its threat to enforce global steel and aluminum tariffs. He went back to this threat by making an exception for key trading partners such as Mexico, Canada and South Korea (but not Japan for Abe's dissatisfaction).

What plans do traders and investors have for punishing Trump China and Russia for devaluing their currencies? He did not say so, but the dollar fell 2.7% against a basket of foreign currencies this year, and that's good for US corporations, of course, by making their goods cheaper overseas.

So it's a bit unclear

What's clear at the moment is the sky over Mar-a-Lago and the forecast for tomorrow. Asian, European and US stock futures have all gone up. Do the president and the prime minister have their start time?

To contact the author: john.pickering@thestreet.com or Twitter @ johnpickering16.


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