2017 has been a big year for stocks, and possibly the best year on record since 2013.
The Dow is up 25%, the S&P 500 up 25%, and the Nasdaq is up 30%. Financial planner Richard Rosso tells KTRH Trump removed a psychological cloud over our heads, and the markets benefited.
“It always felt like there was some wet blanket over us, something holding us back. When Trump came in he removed the blanket,” Rosso explained.
And that wet blanket may have been the over-regulation we saw under former President Obama.
“Corporations could not plan. They always thought there were more regulations coming,” Rosso explained. “Therefore they decided to slow things down. It was a more hostile environment towards business.”
And that was, Rosso says, why corporations weren't spending money, why the recovery from the recession was so slow, and why the stock market really didn't take off until Trump was elected.