Trump trade advisor Peter Navarro says the rebound is proof the tariffs defied Wall Street fears and helped drive investment, productivity and economic growth critics never saw coming.
White House Counselor for Trade and Manufacturing Peter Navarro
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"It's nice to be right," Navarro said, pointing back to his prediction in April. "We were talking on April 7th, thereabouts... The Dow had fallen to 38,000... What I said to you... It's going to 50,000."
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Peter should take note that In 2025, the "Magnificent Seven" stocks (Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta, and Tesla) were responsible for approximately 40% to 52% of the S&P 500's total gains.
Nvidia and Alphabet: These were the primary drivers, with Nvidia alone contributing 15.5% and Alphabet 13.5% of the index's total return.
Seven...out of Five Hundred.