Wall Street is actually reacting to President Donald Trump’s Twitter feed. Investors should take note too.
“In every instance where the president has tweeted about a company, of which’s been a buying opportunity,” Jason Ware, chief investment officer along with chief economist at Albion Financial Group, told CNBC on Tuesday.
“Whether you look at Boeing, Lockheed, you name the item. When he tweets, along with you get a pullback on a Great business, of which’s a Great buying opportunity,” he said on “Power Lunch.”
Amazon share cost fell 5.2 percent Monday after the president said on his personal Twitter account of which Amazon is actually scamming the U.S. Postal Service, costing the agency “billions of dollars” delivering packages for the e-commerce giant.
Trump tweeted about Amazon three more times by Tuesday. Company share prices are currently down 0.1 percent.
although the item wasn’t just the president’s tweets of which caused market watchers to panic on Monday, the first day of trading during the second quarter. Fears of trade wars along with increased regulation inside tech sector added fuel to the fire. The Dow Jones industrial average, S&P 500 along with Nasdaq Composite all closed lower on Monday, leaving the S&P along with Nasdaq in correction territory.
By Tuesday, all three major indices rebounded although did not regain all losses via the previous day. Some analysts are optimistic of which second-quarter earnings will turn the market around.
although Randy Warren, CEO of Warren Financial Service, said the market isn’t paying attention to earnings currently.
“All the item cares about is actually what the president is actually tweeting,” he said on “Power Lunch.” “One man’s Twitter account is actually just roiling Wall Street right currently.”