Barry Ritholz maintains two stock indices: the Oligarch Index contains "companies that Trump liked" in his public communications; the Drain the Swamp index has "companies that Trump trashed."
Since Trump took office, the S&P has gained 21%. The Oligarch index underperformed the market with 19.5% in gains. The Drain the Swamp index gained "a yuuge 42.5 percent."
Trump criticized Boeing Co., which has the contract for building new 747 Air Force One jets, by saying, “costs are out of control, more than $4 billion. Cancel order!” The stock has doubled since then, rising from $159 to $318. I wonder if more corporate executives are not secretly wishing to themselves “Please, Mr. President -- more tweets!”
As for the “failing New York Times,” which Trump constantly trashes while not-so-secretly yearning for reporter Maggie Haberman’s approval? Its stock has appreciated 41 percent, as its digital business has skyrocketed amid record subscriber growth.
Betting Against Trump Was a Market-Beater [Barry Ritholz/Bloomberg]
Donald Trump on Thursday issued an executive order that bans doing business with ByteDance, the China-based company that owns TikTok. The ban takes effect in 45 days.
Twitter will label the accounts of state-controlled media entities, as well as their senior staff and government officials, said the company in a blog post Thursday.
California AG office reviewing DoJ filing, “[We] look forward to defending California’s state net neutrality protections.”
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