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Wall Street bucks Trump emergency threat

Markets unfazed by border brouhaha

Senior Digital Journalist, Your Money

Wall Street is officially out of correction territory with US markets rallying for the fifth straight day despite panicked threats from Donald Trump and mixed comments from the Federal Reserve.

All three major indices rose overnight, the S&P500 rising 0.44 per cent, the Nasdaq 0.42 per cent and the Dow Jones 0.5 per cent.

Markets frequently respond negatively to policy threats and Twitter announcements from Trump, but it was positive news for investors following significant falls leading into the end of last year.

The US president made waves overnight after he said he would declare a national emergency if a deal isn’t reached over his promised US-Mexico border wall.

Following the comments, the president touched down Thursday at the US-Mexico border in Texas to further rally for his case.

That followed a failed meeting with the Democrats, dubbed by Trump as “a waste of time,” as the partial government shutdown continues into its 20th day.

“It’s tough stuff, but it could be a lot easier for you… if we had the wall, and we’ll get it. I think we’ll win the battle in a very big way,” he said in a press conference there.

Trump also announced that he will not be attending the World Economic Forum in Davos later this month in a Tweet, blaming the Democrats for “intransigence” on the border security issue.

The Democrats maintain that they will not provide the almost $8 billion requested.

There was also a mixed reaction from on the back of comments from the Federal Reserve chairman Jerome Powell, who downplayed suggestions that interest rates would be raised twice more this year.

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