Many pundits claim that President Donald Trump lied when he assured investors that US officials had spoken with top Chinese negotiators about resuming trade talks. Echoing the stock market’s resolute response, Jim Cramer says, “So what?”
In fact, the “Mad Money” host argues that Trump allegedly lying about the trade war is actually a bullish development for the US stock market.
Cramer: Look at President Trump’s Actions, Not His Words
— TheStreet (@TheStreet) August 26, 2019
According to Cramer, what truly matters is that President Trump has embarked on a charm offensive to placate an anxious Wall Street.
The subtext is that the US is still at the negotiating table, and the TV host clearly believes the stock market can go higher.
Trump May Have Prevented a Stock Market Crash
Due to the proximity to the closing bell, Jim Cramer noted on Twitter that there could have been a market crash at the open today had the president not stepped in to right the ship.
I really don't care what the traders do-look at last night's shorting… The president didn't want a crash…. Sorry
— Jim Cramer (@jimcramer) August 26, 2019
There is no question that Donald Trump is trying to walk a delicate line between being market-friendly and trying to push a hard line with China on trade.
So far, the president has appeared anxious any time that wild volatility has emerged in the US stock market.
The Dow is down 573 points perhaps on the news that Representative Seth Moulton, whoever that may be, has dropped out of the 2020 Presidential Race!
— Donald J. Trump (@realDonaldTrump) August 23, 2019