President Trump has 'unbelievable economic momentum,' Jim Paulsen says

Paulsen: We've got a great 'animal spirit cocktail' here

Donald Trump has only been president for less than a week, but many on Wall Street are already analyzing some of his policies and market resiliency under the Trump administration.

"The economic reports, almost a daily event, seem to come out better than expected," Jim Paulsen, an investment strategist for Wells Capital Management told CNBC's "Power Lunch" on Tuesday. "It's sure hard for a market to go down when you get reports every day showing manufacturing coverage, showing consumer health and showing profit health. It's just difficult."

Paulsen acknowledged the factor that markets could've already been experiencing a positive tailwind without the Trump influence, but still asserted that Trump's pro-business mindset has aided in strengthening market resiliency.

"The best thing that President Trump has going for him is an unbelievable and unrelenting economic momentum here," Paulsen said. "There's been a lot of good stuff going on, including a reacceleration of U.S. growth and acceleration and around the globe with global growth — the United States with real median incomes rising and wages rising. You're ending global deflation that was so worrisome. You're lifting yields from zero all across the globe and normalizing monetary policy in the United States. We've got a great animal spirit juicer cocktail here."

And despite Trump's tweeting habits (which has led some stocks to seesaw), Paulsen believes that market resiliency will continue to endure.

"He's not likely to tweet out something that impacts the whole market," Paulsen said. "And what has been the case thus far is that it's usually been a buying opportunity. Tweet hits, the stock sells off. If anything, you buy it and it recovers. I think after a two-year pause in this recovery and in the market action, I think we're starting to restart it all again here, looking forward."

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