President Trump continues to exuberantly promote the "unprecedented" stock market rally since his election...
It would be really nice if the Fake News Media would report the virtually unprecedented Stock Market growth since the election.Need tax cuts
— Donald J. Trump (@realDonaldTrump) October 11, 2017
But just how 'unprecedented' is it?
The answer is not simple.
Via Dana Lyons' Tumblr,
The persistence of the recent stock rally is nearly unprecedented in the past 50 years.
We noted a month ago that the long-awaited Saudi Aramco IPO, scheduled for mid-2018, could be delayed to 2019, but now, according to The FT, Aramco is considering shelving plans for an IPO altogether in favor of a private share sale to the world’s biggest sovereign wealth funds.
Apple experienced a sudden air pocket dip (which was promptly bought) after a Bloomberg report that Qualcomm has filed lawsuits in China seeking to "ban the sale and manufacture of iPhones in the country," a move which is the chipmaker’s biggest shot at Apple so far in a bitter legal fight between the two companies.
One week ago, BofA chief investment strategist Michael Hartnett laid out his reasoning for why a market correction is imminent: