When Lexis’ CEO Says He’s Not ‘On Board’ with the New Trump Administration
The stock market was up today, with the Dow Jones Industrial Average hitting a record high of 2,098.23.
But the news of the president’s controversial executive order banning travel from seven majority-Muslim countries dominated headlines around the world.
Trump is threatening to cut off federal funding to organizations that provide healthcare to immigrants and refugees, even as the country’s stock market has surged.
The order will also make it more difficult for many Americans to access health insurance and restrict access to abortion.
It also leaves in place a rule that limits funding for sanctuary cities and prevents local governments from making policy changes that will increase deportations of undocumented immigrants.
The news comes as many other sectors of the economy were also on high alert, with businesses expecting to see a surge in business in the first week after Trump’s inauguration.
In the stock market, Trump’s stock gains came despite the fact that many businesses are not expecting to have a significant impact on their bottom lines.
In fact, several sectors were down as a result of the ban.
“The stock market today is in a very bullish position,” said Scott Hausmann, a market analyst with New York-based research firm RBC Capital Markets.
“There are some positive signs, but the market is still in a pretty negative state.”
The Dow Jones has hit a record, hitting an all-time high of 1,932.94 on Tuesday.
“I think it’s going to be a very strong day,” said Hausman.
“This is a very interesting and very important week.”
The stock markets are down for more than two weeks in a row.
Trump has been on a major campaign swing this year, but he has also been criticized by some for his travel ban, which has led to protests in some cities and business closures in others.
The ban is scheduled to take effect in 90 days, meaning businesses would not be able to reopen for business until that date.
Hausberg also noted that the markets have a tendency to fall in the next few weeks, which could mean that the Dow is still high even after the ban is implemented.
“As long as the market keeps falling, I think the market should be fine,” he said.
“It will be in the upper mid-single digits.”