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Mark Hulbert: Why Trump’s widespread unpopularity might be good for stocks

CHAPEL HILL, N.C. — Might the stock market be soaring because Donald Trump’s unfavorability ratings are so high?

Believe it or not, yes.

Lower presidential approval ratings historically have been associated with higher stock-market returns. It therefore would actually be a source of investor concern if Donald Trump’s favorability rating were a lot higher than it is right now.

The accompanying chart summarizes the relevant data, courtesy of Ned Davis Research. Notice that the stock market historically has performed the best when the president’s approval rating according to the Gallup organization is between 35% and 50%. That’s comparable to the situation today, since Trump’s favorability rating is 47.4%, according to a compilation of 359 polls from 39 pollsters conducted by Huffington Post.

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