Market Analysts Say Record Stock Surge Not Trump’s Doing

NEW YORK (AP) — The stock market has never been higher, and President Donald Trump would like more people to pay attention.

He complained in a tweet Tuesday that the market’s gains are seldom mentioned in news reports.

But analysts say it would be inaccurate to give Trump full credit for the market’s records, at least those set during the last few months.

Randy Frederick is vice president of trading and derivatives at the Schwab Center for Financial Research. He says the things affecting the market right now aren’t things that have been put in place over the last six months.

Stocks did surge after Trump’s electoral win in November. The hope was that Trump and a Republican-controlled Congress would cut regulations, revamp taxes, invest in infrastructure and enact other pro-business policies.

© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?
Listen to Radio.com Anywhere, Anytime!

Watch & Listen LIVE