- JP Morgan's Jamie Dimon says Trump's tax cut will lead to economic boom this year
- Dimon says economic growth could hit 4 percent this year
- in a CNBC interview at the World Economic Forum in Davos, Dimon also expressed strong support for the tax overhaul, predicting it will boost capital investment and job creation
So this is at least the third guy to say that Trump's tax bill was a huge, huge deal. One almost wonders if the makers and shakers were downplaying the tax bill early on so they could buy shares "cheap." Now that the market has had a huge run, they are now "pumping" the market to drive shares higher.The market's rise has been parabolic, as some say, since November 8, 2016. But yet, no one on CNBC seemed to want to admit it (except for Joe Kernen and Rick Santelli) -- CNBC hosts seemed to keep trying to talk the market down as did their guests. I thought it was due to the fact they detest Trump.
That may be part of the reason. But those folks on CNBC are supposed to be some of the smartest financial knives in the drawer. My hunch: they knew all along how incredible the Trump tax cut was, but they were trying to talk it down so they could invest at lowest share prices possible, perhaps even hoping for a "correction." Last week, CNBC's senior markets commentator spent one full day talking about a possible "overshoot" in the market. When the market kept rising, he quit talking about it.
Example: CNBC talking head talking about the woes of Apple ("Apple falls on JPM concerns about iPhone orders") when in fact the shares of Apple were actually rising after JPM's "concerns":
Now that the cat is out of the bag, as they say, being released at Davos where Donald Trump will give the penultimate speech -- David going into the lion's den -- I expect to see the CNBC folks to start talking the market up, now that they have had a year to "get in."
Just one of my many conspiracy theories. LOL.
*********************************Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship-related decision(s) based on anything you read at this site or think you may have read at this site or based on anything that someone who says he/she read something at this site says something to you. If this is important to you, go to a "reliable" source.
Dow: up 143 points in early morning trading. I think it got as high as 160 points up.
Weak dollar: Mnuchin not afraid.
Geee! Despite downgrade after downgrade, GE still manages to disappoint. Misses forecasts. Shares down another 1% trending back toward $16.
WTI: apparently the "draw" was 1.1 million bbls. I'll get those numbers posted as soon as possible. WTI is now solidly holding over $65. Breakeven in North Dakota, statewide: $21.