On Tuesday, CNN correspondent Christine Romans walked through the state of the U.S. economy — and warned that President Donald Trump is throwing out spin as far and wide as he can on stock performance.
"The S&P rose just enough to make it the best year so far since 1997," said Romans. "So let's see how the stock market numbers stack up. Since Trump's inauguration, the S&P, up 29 percent. Pretty close to the Reagan administration. Less than Bill Clinton. Far better than George W. Bush which fell 23 percent as the dot-com bubble burst. And Trump's stock market trails that of one Barack Obama, where the S&P 500 rose 44 percent from the ashes of a financial crisis."
"But it seems the president doesn't want to come second to President Obama," said Romans. "The president tweeting this morning, 'You cannot judge my Stock Market performance since the inauguration, which was very good, but only from the day after the big Election Win!' In fact, since the election win, the S&P 500 is up a little better 37.6 percent. He's done this before, guys. Moving the goalpost to exaggerate what is already good news."
"The president's protocol is to not take credit for a stock market rally, because you have to take blame for a crash," said Romans. "But this president has smashed that protocol."
"Now if history is any guide, October could be unpredictable for investors and a president who cheerleads the stock market," she added, citing the trade war, and the upcoming Federal Reserve meetings.