Trump Takes A Break From His Bunker To Celebrate ‘Sacred’ Stock Market Gains

WASHINGTON, DC - NOVEMBER 20: U.S. President Donald Trump speaks to the press in the James Brady Press Briefing Room at the White House on November 20, 2020 in Washington, DC. U.S. President Donald Trump held his fir... WASHINGTON, DC - NOVEMBER 20: U.S. President Donald Trump speaks to the press in the James Brady Press Briefing Room at the White House on November 20, 2020 in Washington, DC. U.S. President Donald Trump held his first press conference in over a week to make an announcement on prescription drug prices as he continues to challenge the results of the 2020 Presidential election. (Photo by Tasos Katopodis/Getty Images) MORE LESS

President Donald Trump, who has bunkered very strongly since his electoral defeat earlier this month, made a surprise appearance Tuesday in the White House briefing room to credit himself for unprecedented gains in the stock market.

“The stock market’s just broken 30,000 — never been broken, that number,” Trump said in very short remarks that clocked in at about a minute. He was referring to the Dow Jones Industrial Average.

The President, who has largely failed to address the nation on how the country will grapple with surging COVID-19 infections and hospitalizations, appeared eager to take the podium and credit his own administration for the market’s strength after largely shying away from making formal public remarks in the stinging weeks since losing his reelection.

“That’s a sacred number, 30,000, nobody thought they’d ever see it,” the one-term president said.

Trump has frequently claimed that markets would suffer dramatically if he lost reelection. Yet the record high has coincided with the formal start of President-elect Joe Biden’s transition to the role of commander-in-chief, after the General Services Administration chief finally allowed the process to begin late Monday.

“It’s the 48th time that we’ve broken records during the Trump administration,” Trump asserted, adding that he wanted to “congratulate all the people within the administration that work so hard.”

The sudden emergence from hiding may have been a direct effort by Trump to lay claim on the gains even as stock experts chattered that the record-high numbers were likely related to Biden’s transition and reports that he would nominate Janet Yellen for Treasury secretary. 

Twitter erupted in response:

Dear Reader,

When we asked recently what makes TPM different from other outlets, readers cited factors like honesty, curiosity, transparency, and our vibrant community. They also pointed to our ability to report on important stories and trends long before they are picked up by mainstream outlets; our ability to contextualize information within the arc of history; and our focus on the real-world consequences of the news.

Our unique approach to reporting and presenting the news, however, wouldn’t be possible without our readers’ support. That’s not just marketing speak, it’s true: our work would literally not be possible without readers deciding to become members. Not only does member support account for more than 80% of TPM’s revenue, our members have helped us build an engaged and informed community. Many of our best stories were born from reader tips and valuable member feedback.

We do what other news outlets can’t or won’t do because our members’ support gives us real independence.

If you enjoy reading TPM and value what we do, become a member today.

Sincerely,
TPM Staff
Latest News
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Investigations Desk:
Reporters:
Newswriters:
Director of Audience:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: