Jim Cramer today compared the impact of the economic story Trump is telling to that of “a major research house on Wall Street.”
Cramer said that’s because Trump spent a fair portion of his speech discussing his economic record, boasting of historically low unemployment, growth in real median household income and retirement savings.
“Previous presidents have not cared about the stock market because they don’t think it’s that big,” Cramer said on “Squawk on the Street.” “But I’m listening to him and I’m thinking, I understand why people are buying stocks.”
All three major indexes were higher Wednesday, building on two consecutive days of gains after a coronavirus-induced sell off last week.
Cramer compared the impact of the economic story Trump is telling to that of “a major research house on Wall Street.”
“He makes it so you want to buy stocks,” Cramer said, arguing Trump’s speech was the equivalent of an analyst issuing a “strong buy” call.
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