President Donald Trump Now Claims to "Love the Inflation" -- but Wall Street Doesn't, and That's a Big Problem
President Trump's 180 on inflation may result in a corresponding about-face for Wall Street's bull market.
President Donald Trump Now Claims to "Love the Inflation" -- but Wall Street Doesn't, and That's a Big Problem
Overview
Earlier this month, the time-honored Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and technology-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) all hit record-closing highs. Excitement for the artificial intelligence data center build-out has increased corporate growth forecasts and expanded valuation multiples to levels last seen in the late 1990s.
But Wall Street's historic rally may not be as rock-solid as it appears. The May inflation report, published by the Bureau of Labor Statistics on June 10, revealed significant headwinds for the stock market.
Details
While President Donald Trump doesn't appear worried about inflation, and has even changed his tune about rising prices, a historically expensive stock market definitely cares -- and that's a big problem.
Source
Originally published at www.fool.com.
