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1.Market Observations, 8.Was Sticky

4 Aug 2017 (AFR) – Dow 22,000: can Trump take credit?

(4 August 2017, AFR, p31,  by John Kehoe)

‘The Dow Jones Industrial Average topped 22,000 points for the first time in history in the United States and President Donald Trump quickly took credit for the milestone. But most investors and analysts argue Mr Trump is no longer the driving force behind the bull market rally like he was soon after the November election. Rather, better US corporate earnings underpinned by a steadily improving global economy are the chief factors propelling stocks higher, taking the baton from the post-election “Trump bump”. Nevertheless, President Trump was happy to bask in the glory.’

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