Budget and Trump’s Tariffs Could Spark Record Market Surge [WATCH]

Economist Steve Moore said Thursday that the stock market could experience a major rebound if key elements of President Donald Trump’s economic agenda move forward, particularly the approval of a GOP-led budget resolution and developments on trade policy.

Speaking on Fox Business, Moore addressed market volatility and investor concerns that followed President Trump’s recent announcement of reciprocal tariffs targeting several foreign nations. Moore said that despite initial market unease, conditions now point to a potential economic breakthrough.

“We could be looking at an historic breakthrough on both trade and taxes,” Moore said.

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Congress passed a Republican budget resolution blueprint on April 10 that includes provisions tied to President Trump’s 2017 tax cuts, increased defense spending, and enhanced immigration enforcement.

The resolution lays the groundwork for Republicans to advance fiscal priorities without needing to clear the Senate’s 60-vote filibuster threshold, using budget reconciliation rules that allow for passage with a simple majority.

Republican lawmakers have suggested the budget resolution could move quickly through Congress. Some targets mentioned include Memorial Day or Independence Day.

“I don’t know what date they’re looking at. I heard July 4. I prefer Memorial Day, but I’ll take July 4,” Moore said.

“If those two things happen — this is a business show, this is an investor show — I think you’re gonna see one of the biggest booms in the stock market ever. I really do.”

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Moore, a longtime supporter of pro-growth tax policy and a former economic advisor to Trump, said that current indicators have him optimistic despite previous concerns.

“I think you’re gonna see a massive turnaround in the bad stock market we’ve had over the last month or two, and it could be a record high. So, yeah, I’m feeling very bullish about things now,” he added.

“Look, there are still things that could go wrong. [But] right now, it’s looking positive.”

The stock market has experienced noticeable fluctuations over the past several weeks following trade policy developments.

As of Thursday’s close, the S&P 500 futures rose 0.3%, while Nasdaq-100 futures were up 0.4%, according to data from CNBC.

Market confidence was further bolstered earlier in the week when President Trump indicated flexibility on the tariff imposed on Chinese imports.

On Tuesday, Trump signaled that the current 145% tariff on certain Chinese goods could be reduced, stating it would “come down substantially,” though not be eliminated entirely.

The administration’s tariff strategy has drawn criticism from some economists and media commentators who warn of potential retaliation and short-term market instability.

However, Trump has maintained that the tariffs are part of a long-term effort to secure fair trade terms and revitalize American manufacturing.

The economic forecast continues to be shaped by legislative movement in Congress, trade negotiations, and global market reactions.

While uncertainties remain, Moore’s projection of a possible record-setting rally hinges on the passage of key fiscal measures and perceived improvements in trade policy clarity.

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