Trump credits ‘confidence’ in administration for stock market record

President Trump on Tuesday took credit for record stock market highs, citing the “confidence” in his push for tax cuts. 

“Stock market hit yet another all-time record high yesterday,” Trump wrote on Twitter from South Korea.

“There is great confidence in the moves that my Administration……..is making. Working very hard on TAX CUTS for the middle class, companies and jobs!”

Stock market hit yet another all-time record high yesterday. There is great confidence in the moves that my Administration….

— Donald J. Trump (@realDonaldTrump) November 7, 2017

Reuters reported that the Nasdaq Composite Index, the S&P 500 Index and the Dow Jones Industrial Average ended Monday reaching record heights.

The comments from the president come during his five-nation tour of Asia, but also as House Republicans push tax-reform legislation.

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Trump often takes credit for the stock market’s performance, in addition to job numbers.

“Stock Market could hit all-time high (again) 22,000 today,” Trump said Aug. 1 on Twitter. “Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!”

Just last month, Trump appeared to suggest that the stock market gains would lead to a reduction in national debt, adding that if tax cuts are passed, the economy and job market would “grow by leaps and bounds.”