Daily Outlook

Re-election Campaign: Trump Will Do Anything to Avoid a Stock Market Plunge

The U.S. stock market is rising and U.S. President Donald Trump is doubling down to refute his own advisor who claimed the ‘phase one’ deal with China is over. The Trump administration is preparing for a re-election campaign ahead of the November Presidential election.

But, the protests and the fear of a second wave of the pandemic have set the Trump campaign back in recent weeks.In May, President Trump and the Republican National Committee fell behind Joe Biden in campaign fundraising by $6.8 million. Biden and the Democratic National Committee outpaced the Trump campaign last month by raising $80.8 million.

For President Trump, the stock market remains as his biggest bet going into the re-election campaign. The Nasdaq Composite is at an all-time high, led by top tech stocks such as Apple, Microsoft, and Amazon. The Dow Jones Industrial Average (DJIA) is steadily climbing above 26,000 points. The Dow is around 11.5% short of seeing a new record high.

The Trump administration has all the incentives to maintain the momentum of the stock market. That is likely the reason President Trump scrambled to refute the claims Peter Navarro made on Fox News.

Damage Control Trump Will Do Anything to Avoid a Stock Market Plunge, CCN, Jun 23

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