TRUMP WIN: Stocks Hit All-Time High Amid US Trade With China
The Dow Jones Industrial Average rose to 0.83% in morning trading,
President Donald Trump has celebrated another massive win as stocks hit their highest levels ever amid the current trade war with China.
The Dow Jones Industrial Average rose to 0.83% in morning trading, then soaring over its previous record set on January 26
The S&P 500 added six-tenths of the percentage point, rising well above the last record set in August.
The Nasdaq Composite rose nine-tenths of a percentage point.
According to Breitbart: Escalating global trade disputes have not weighed on the U.S. economy as much as critics of the Trump administration predicted. In fact, they have barely shown up in economic data at all.
On Thursday, the Labor Department said new jobless claims last week were at the lowest level in 49 years, defying forecasts that tariffs would cost U.S. jobs.
The new records come just days after the Trump administration announced that it was placing tariffs on an additional $200 billion of Chinese goods and China retaliated by promising to impose tariffs on $60 billion of U.S. goods.
The U.S. and Canada have also not yet come to an agreement that would include Canada in the new trade pact set to replace the North American Free Trade Agreement.
S&P 500 HITS ALL-TIME HIGH Congratulations USA!— Donald J. Trump (@realDonaldTrump) September 20, 2018
Middle-Class America back on the rise
Middle-class American families are now on the rise again with the median household income for 2017 reaching a historic record high under President Donald Trump.
According to the Census Bureau survey, the median income rose to $61,372, from $60,309 a year earlier, when adjusted for inflationPresident Donald Trump celebrated the new on Sept. 13, saying that middle-class income “will continue to rise (unless the Dem[ocrat]s get in and destroy what we have built)."
Many have credited Trump with accelerating economic growth with his tax cuts and deregulation.