Economics
Trump Isn’t to Thank for the Stock Market’s Boom, Barclays Says
- Roots of rally seen in factors such as oil gains, China policy
- Buoyant markets reflect economic forces ‘already in motion’
This article is for subscribers only.
Barclays Plc is challenging U.S. President Donald Trump’s claim of credit for record stock market levels.
The U.S. equity market’s “Trump rally” actually has its roots in the period before the 2016 presidential election and is due to economic factors, such as oil’s recovery and looser policy in China, according to Barclays. The S&P 500 Index rose to multiple records in January, following a 19 percent jump last year.