Why President Trump’s constant cheerleading of the stock market might not help him much come election time

  • Written by MarketWatch
  • Published in Economics

Rarely does a record high go unnoticed by the White House.

Just last week, with the major U.S. stock indexes in rally mode, President Trump fired off another tweet celebrating the news:

That should sound familiar by now. According to TrumpTwitterArchive.com[1], the president has tweeted about the “stock market” at least 117 times. Whenever there’s a big move, it seems that Trump is there to tie it to his policies and oftentimes to use it to hammer away at his rivals:

But is the relentless bull market really that helpful to Trump’s cause?

As you can see from this chart, a recent poll of likely voters from the Financial Times[2] shows that 61% of Americans believe that the stock market’s rally has had little or no impact on their finances....

The survey also suggests that most Americans have no idea what’s happening on Wall Street, with just over 40% of respondents saying they are aware the stock market has increased in value since the beginning of the year. Furthermore, only 32% of those polled said they are better off now, financially, than they were before Trump’s inauguration, while 31% said they’re worse off and 37% said they’re about the same. The FT explained that the survey findings are part of the monthly FT-Peterson U.S. Economic Monitor, which tracks voter sentiment towards the U.S. economy in the run-up to the 2020 election. The latest survey was conducted by two polling groups — one Democratic and one Republican.Don’t expect a markets-related tweet from Trump’s Twitter TWTR, +1.06%[3] feed on Monday, with the Dow Jones Industrial Average DJIA, -0.26%[4], Nasdaq COMP, -0.16%[5] and S&P 500 index SPX, -0.16%[6] all losing ground.Well, maybe one:References^TrumpTwitterArchive.com (trumptwitterarchive.com)^a recent poll of likely voters from the Financial Times (www.ft.com)^TWTR, +1.06% (www.marketwatch.com)^DJIA, -0.26% (www.marketwatch.com)^COMP, -0.16% (www.marketwatch.com)^SPX, -0.16% (www.marketwatch.com)

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