Trump says US economy ‘BOOMING’, predicts stock market will set another record

Major US stock market indices may enjoy yet another record on Tuesday, President Donald Trump vowed before his much-anticipated speech at the Economic Club of New York.

Trump is scheduled to address the audience at noon, and is expected to talk about the ongoing tariff dispute between Washington and Beijing, while the two powers are still in talks over the partial trade agreement. Some reports earlier said that the president may postpone levies on EU automobile imports for six months.

The potential easing of US tariffs has been one of the main reasons for the market rally. US stock indices were pointing slightly higher on Tuesday after the president’s tweets. 

If Trump gets it right, the Dow Jones Industrial Average may score its 10th record high this year, after it closed slightly higher on Monday thanks to rising Boeing shares. However, the rest of the stock market closed lower with the S&P 500 down 0.2 percent and the Nasdaq Composite falling 0.13 percent, amid trade war uncertainties.

Earlier this month, the S&P 500 and the Nasdaq closed at all-time highs. The S&P reached 3,093 points, while the Nasdaq closed at 8,475 points when markets closed on Friday.

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