STORY: Trump, in his first term, was so focused on equity markets that “he might even change his public statements to try and support market levels,” Mulberry said.
The S&P 500 rose more than 50% from the time Trump won the election in November of 2016 through the end of his first term.
“Obviously, over the last 30 days, we’ve seen a decidedly different market,” Mulberry noted. “At this point, the S&P is down 5% … and obviously the NASDAQ is down twice that. So, is this a different administration with a different focus?”
Mulberry’s answer is no, at least over the long term.
Trump’s focus, as Mulberry sees it, is more on the bond market, with the goal of lowering interest rates.
As rates comes down, that should “start to build back in a base of growth for the stock market,” he said.
