Two leading investment strategists told CNBC on Friday that President Donald Trump‘s promised pro-growth agenda should help drive the stock market even higher.
“I like most of what he says he wants to do,” Wells Capital Management’s Jim Paulsen said on “Squawk Box.”
But Paulsen took issue with the way he’s going about it. “It’s mostly entertaining.”
“The bigger thing in the room is amazing economic and earnings momentum across the globe, broadening out,” he continued. “To me, as long as that persists, I think that’s the wind under Trump’s magic carpet.”
Jason Trennert of Strategas Research Partners sees Trump as a bigger influence on the market and business than Paulsen does. He attributed the increase in small business sentiment to the president’s planned tax cuts and deregulation.
But investors who are wondering when Trump is going to change and become less confrontational are “missing it,” Trennert argued. “This guy is going straight down the middle. He’s giving you the playbook, and you either got to get on board or get run over.”
U.S. stock futures were lower Friday morning after a five-session run of record closes ended for the S&P 500 and Nasdaq on Thursday. The Dow Jones industrial average, however, extended its streak of new highs to six in a row.