Stock market losses could have been far worse this week if investors did not believe a trade deal is coming-or in a 'Trump put.'
div > div.group > p:first-child"> Analysts say the stock market has been hanging in after trade talks with China hit a rough spot because investors believe a deal is coming, and they also expect President Donald Trump to take action if the stock market looks like it is heading for a real meltdown.
"Trump was effective in helping the markets when it came to tax policy in 2017 and now in coming to an agreement with China," said Peter Boockvar, chief investment strategist at Bleakley Advisory Group,"Every time he talks about talks going well with China, that's what the markets want to hear. If he says something good, the markets are going to rally."
Following a group of tweets about China and trade Friday morning, Trump tweeted that 401K retirement funds have soared 466% since the market bottomed in 2009.The president also tweeted that he is not in a rush for a deal and that China should not renegotiate deals at the last minute.U.S. stock futures rose early Friday, even after the U.S. moved forward to raise tariffs to 25% from 10% on $200 billion in Chinese goods.
Boockvar said the"Trump put" has been in the market, but at the end of the day Trump can't control the course of the stock market though he has made the right comments at the right time."He tweeted the Saturday before New Year's Eve that trade discussions were doing great," he said."He tweeted that and because it was a concern, we had a rally."
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