Love him or hate him, President Trump is doing pretty much what he said he was going to do during the election, healthcare aside.
So far Wall Street has loved him, with the stock market up over 10% since the inauguration. And that didn’t change on Friday after the bombing, with the Dow Jones Industrial Average remaining well above 20,000, after a fractional dip credited to the poor jobs report.
This dramatic stock market rally since the election has been called the ‘Trump Bump.’ So I asked you if this ‘Trump Bump’ on Wall Street is translating to a similar bump on Main Street. And the results are decisive: No, not yet, if ever.
Over 200 of you voted and over 60% said it isn’t happening in your businesses. Just under 40% said that indeed things were looking better in their business since the election, though only 26% said they definitely credit it to the ‘Trump Bump.’
The results were more interesting when you looked at the types of businesses you were in. Only one segment, the B2C service businesses, such as travel, hospitality and design service providers, was bullish about the ‘Trump Bump’ with a decisive majority, 57%, reporting that they were seeing a uptick in business.
Everyone else, including retailers, luxury goods, B2B service providers and others, voted in line with the survey total: 60% against, 40% for.
Take next week’s survey about whether the ‘Retail Apocalypse’ is here now or coming.