The Dow Industrial Average nabbed its ninth record close of the year Monday and one of President Trump’s closest advisors predicted more will come including cracking a plateau which once seemed unreachable.
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“We could get Dow up to 30,000,” Peter Navarro, Assistant to the President, and Director of Trade and Manufacturing Policy told FOX Business' Trish Regan.
Navarro also reminded viewers of “Trish Regan Primetime” of his Nostradamus like market predictions of the past. “The day after the election I predicted Dow 25,000 and we got to that.”
When asked what it would take to get to the magic mark, Navarro said, “What we need here is a little help from our friends and maybe not so much friends. Nancy Pelosi needs to put the US-Mexico-Canada (trade) agreement on the floor. I think people need to know that that that deal is far more important than the China deal in the scheme of things. It is twice the volume of trade and five-time the exports."
Navarro said a push from our allies across the Atlantic would help as well. "Europe is not buying enough of our stuff because they're slowing down. The big problem there is an export-dependent German economy. Everyone has been telling them for about five years now: 'do a fiscal stimulus'."
While Wall Street has seen ups and downs at the mere mention of the words "China trade," over the weekend Trump offered more tough talk. "
“China very much wants to make a deal,” Trump said. “They’re having the worst year they’ve had in 57 years. Their supply chain is all broken, like an egg, they want to make a deal, perhaps they have to make a deal, I don’t know, I don’t care, that’s up to them.”
Navarro believes Trump has support on his China position. "The president is standing up to China," declared Navarro, "He has brought the American public along with him as well as Capitol Hill."