What has this world come to?!?
In advising it’s investors (as well as making decisions for their own bottom line), apparently JP Morgan has developed a system – based on the Volatility Index – to gauge the effect Trump’s tweets (10,000 of them since inauguration!) has on the stock market.
JPMorgan says Trump tweets on average 10 times a day since the start of 2016 — 10,000 tweets since the inauguration. It has tracked specific words, not specific presidential tweets: This includes “China,” “billion,” “products,” “Democrats” and “great.”
Wayne Friedman, TV Watch
JPMorgan says the frequency of market-moving tweets from Trump “ballooned” in August, causing big market swings. Looking at the Dow Jones Industrials, for example, the index closed at 26,583 on August 1, 2019. It moved down to 25,717 on August 4, then was up to 26,525 on August 21. It was down 25,628 on August 22, then up to 26,835 on Sept 5.