Good advice “markets.” Trump wins by working the economic card. He’ll have a tougher slog if battles headlong on cultural issues.
Trump has an interesting fighting style. He’s striking while he can, which is smart. But in the words of a friend of mine, Trump – “be cool.” Don’t get bent out of shape over Hollywood people or get into a public pissing match with the president of Mexico. Cut taxes. Cut regs. Kill crony capitalism. Get rid of bureaucrats. These are winners.
Stocks have been supported since the election by optimism that Trump’s growth policies would be embraced by a Republican Congress and quickly adopted. Stocks held onto gains, and the Dow crossed 20,000 last week as markets focused on Trump’s approval of two pipelines more than his threat to put taxes on Mexican imports and his spat with the president of Mexico over who would pay for a wall on the border.
Equities “were set up for perfection, and I think Trump reminded everybody that what you see is what you get, for better or worse,” said Peter Boockvar, chief market analyst at The Lindsey Group.