U.S. stocks edged lower; Q2 GDP rose more than expected, Nvidia disappoints
Investing.com -- At the White House on Wednesday, President Trump sounded the most optimistic about the stock market since he took over as president. "Financially, we’ll be stronger than ever before. I think the markets are going to soar when they see what’s happening,” Trump said.
Stocks have been under heavy pressure over the past few weeks related to Trump’s tariff policy. Trump slapped 25% tariffs on Canada and Mexico and an additional 10% tariff on China. He has also threatened reciprocal tariffs on the EU and others forthcoming on April 2. The S&P 500 is down 9% from its recent highs.
The comments from Trump followed the Business Roundtable event on Tuesday.
According to the President, the business roundtable event saw unprecedented attendance, with the heads of the top 150 companies present, marking the first occurrence of full participation in the history of the roundtable.
Trump emphasized that the discussions during the meeting went exceptionally well, with a strong focus on the positive impact of reduced regulations and tax cuts. He conveyed that the sentiment among the business leaders was one of significant optimism regarding the future of the country’s economic landscape.
The President also seized the opportunity to call out the Democratic Party, urging them to align with what he considers the right course for the nation.
“It would be great if the Democrats would do what’s right for our country for a change, because they really are there,” he said. “They’ve lost their way. They’ve lost their way.”