Trump’s Showmanship Sparks Market Momentum

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Most people don’t operate this way, but I believe in being open. I ended up back in Cleveland Clinic. Friday night, I was running a fever and they sent me home, but I ended up going back there on Saturday. I stayed there until last night and got home around 6:00 PM. The medication they originally gave me wasn’t working, but now I’m on the right path. The problem was that it was a three-day weekend, and I had to sit there most of the weekend waiting for doctors. I really shouldn’t have had to do that but that’s how life goes. Nobody promised me a rose garden, and I’m finding that out. I will win this battle.

The ES has now rallied over 210 points (3.56%) from Tuesday, January 14th, when it caught everyone short ahead of President Trump’s inauguration. I said I thought that there were a lot of buy stops and talked about the 6050 level. Over the last two sessions, the ES has rallied 114 points. Why? Because it was Trump’s turn to put on a show and he did. He brought out heavyweight billionaires, rock stars, governors, mayors, CEOs, and foreign dignitaries to rev up his new administration. Like him or not, he put on quite a show, and the public ate it up and so did the stock market. Am I surprised? Not at all! He’s a showman and he put on quite a show but it didn’t come without some backlash. Over a dozen states have already sued the president over his new policy initiatives.

Trump’s push helped all three major U.S. indexes close higher on the day. The Dow Jones rose 1.2%, and the S&P 500 gained 0.6%. Shares of General Motors jumped 5.7%, while brokerage firm Charles Schwab soared nearly 6% after reporting a 76% increase in quarterly profits. There was a lot of talk about tariffs but so far nothing has been initiated. Apple fell 3.2% after the Jefferies downgrade and the dollar was volatile, rising early in the day but giving back most of its gains later. Bitcoin traded at 109,000 after the launch of the first U.S. spot Bitcoin exchange-traded funds offered by big Wall Street asset managers like BlackRock and Fidelity Investments. Meanwhile, President Trump’s own token, $TRUMP has soared to a valuation of $8.4 billion since Friday night’s launch, while Melania’s token, $MELANIA, is valued at around $800 million, according to CoinMarketCap. I haven’t been able to watch CNBC or Bloomberg, but the level of news and headlines from Friday through yesterday’s close has been astonishing.