Fox News’ Sandra Smith exclaimed, “Wow!” when talking about the U.S. stock market hitting an all-time high on Friday.
“Fox News Alert here, as we take a look at the markets, and the U.S. Stock market continues to hit record high after record high,” she said, continuing:
You’re looking at a fresh 300-point gain on the Dow right now, hitting its highs of the session. The S&P 500, which is a snapshot of the broader U.S. Stock market, is hitting an all-time high, surpassing the previous record set two years ago.
So, wow, there continues to be a lot of enthusiasm and a lot of optimism in the U.S. Stock market. There’s still anticipation the Federal Reserve will cut rates this year. We’ll see how that plays out.
Conservative-leaning The Wall Street Journal also reported that “Americans are rapidly becoming much more upbeat about the economy.”
The conservative wonderment at the state of the economy comes in the wake of former President Donald Trump predicting a financial collapse “in the next 12 months.” In fact, Trump told Lou Dobbs that he “hoped” for a crash on President Joe Biden’s watch.
“When there’s a crash, I hope it’s gonna be during this next [sic] 12 months because I don’t wanna be Hebert Hoover – the one president, I just don’t wanna be Herbert Hoover.”
The stock market crashed in 1929 within six months of Hoover’s inauguration, leading to the Great Depression. Calvin Coolidge was his predecessor and served during the “Roaring ’20’s,” yet his outdated policies were blamed for the economic collapse that Hoover inherited. Trump’s reference to “not being like Hoover” assumed that the former president would win the 2024 election and be forced to deal with what Biden left behind.
Biden and the Democratic National Convention have credited “Bidenomics” with helping to improve the economic landscape, but the low unemployment and bounding stock market don’t seem to be registering with voters. A recent Financial Times/University of Michigan poll revealed that only 24% of Democrats said they’re financially better off under President Biden.
In addition, 31% of Democrats said they have become either “somewhat” or “much worse off” since Biden took office in Jan. 2021.
It remains to be seen whether consumer confidence will perk up enough to lead Biden to victory in 2024.
Watch the clip above via CNN.
