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‘More good news is coming’ – President Trump assures Americans as financial markets reach all time high




President Donald observing the stock market break new highs, tweeted about it Thursday morning. “For all of you that have made a fortune in the markets, or seen your 401k’s rise beyond your wildest expectations, more good news is coming” he said.

A rally in tech led the Nasdaq Composite and S&P 500 to record highs, with , Alphabet and leading the gains. Investor sentiment was also boosted by the resumption of U.S.- talks.

The Dow Jones Industrial Average DJIA, -0.20% 60.55 points, or 0.2%, to 26,124.57, coming within 1.9% of its record close set on Jan. 26. The S&P 500 index SPX, -0.08% climbed 16.52 points, or 0.6%, to 2,914.04, while the Nasdaq Composite Index COMP, +0.27% added 79.65 points, or 1%, to 8,109.69, both records.

For the month of August, the Dow is up nearly 3%, the S&P 500 is up 3.5% and the Nasdaq is up 5.7%.

For all the fears of a slowdown, is still kicking both on the macro and micro level. Real U.S. was revised to an annualized rate of 4.2% up from the initial estimate of 4.1%. Business investment, net exports and spending were revised up, offsetting downward revisions to consumer spending and residential.

The Trump administration’s bilateral agreement with on Monday continued to underpin investor hopes that a global would be averted, which would likely investor appetite for risker assets like stocks.

Ongoing optimism over trade comes as U.S. Treasury Secretary Steven Mnuchin said Tuesday the Trump administration’s objective “is to try to get on board quickly.” U.S.- trade talks got underway on Tuesday.



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