When Donald Trump’s stock goes wild
Trump’s stocks are soaring in 2017 and 2018, boosting his profits as he attempts to take on a Republican-controlled Congress that has blocked some of his legislative agenda.
But with his stock price soaring and his approval rating plummeting, Trump’s latest stock move has drawn scrutiny for its potential to boost profits for his company.
Trump, who has led a fierce fight against Obamacare and congressional Republicans, is buying shares of Walmart, which he hopes will help the company bring back millions of jobs lost to China.
Trump has also been a strong supporter of his father, former President Richard M. Nixon, who was impeached and jailed in 1974 after the Watergate scandal.
The elder Trump was convicted of obstruction of justice and lying to Congress about his role in the Watergate break-in.
He was released from prison in 2018 and died in January.
On Friday, the day after Trump’s announcement of the stock purchase, the S&P 500 and Dow Jones Industrial Average soared more than 3 percent each.
Trump has also announced an additional $100 million in donations to the President’s charitable foundation.
Trump is also making headlines for other things, such as his recent claim that President Barack Obama is a Muslim, which prompted some to question whether Trump was exaggerating about his heritage.
Trump later backed off the statement and said he was just making a statement about his father’s religion.
The stock price rally also sparked questions about Trump’s commitment to protecting the environment, and some of the President-elect’s actions to the environment could raise questions about his policies on environmental protection.