The Surging Stock Markets Reflects Confidence in Trump Agenda

The Surging Stock Markets Reflects Confidence in Trump Agenda

The Surging Stock Markets Reflects Confidence in Trump Agenda

$SPY

Thursday in a press conference, US President Donald Trump credited high confidence and optimism in the early weeks of his administration for new stock market highs, despite his low approval ratings, and suggested markets will act even more favorably once the White House and congressional Republicans roll out a new blueprint for tax cuts in the coming weeks.

“Stock market hits new high with longest winning streak in decades,” the President tweeted on Thursday. “Great level of confidence and optimism — even before the tax plan rollout!”

Global equities just vaulted to their 1st record in 18 months Wednesday amid the longest streak of gains in the S&P 500 Index since September 2013, and futures on the DJIA were up 19% since their election night lows.

Thursday, was options expiry and US stock-index futures flat with a slight Bearish after Wall Street’s 7-day winning run.

S&P 500 futures expiring in March dropped 0.2% to 2,346.75 in  New York.

The Trump’s campaign calledd to cut the corporate tax rate to 15% from 35% goes further than House Republicans’ plan of last year to cut the rate to 20%. Last week President Trump said he is working with House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell on potential tax measures.

Symbol Last Trade Date Change Open High Low Volume
SPY 234.62 Feb-16-2017 -0.30 234.96 235.15 233.85 71,620,900

Note: Canadian symbols now end in .c i.e SYMB.C

Analysis Overall Short Intermediate Long
Bullish (0.34) Bullish (0.25) Bullish (0.48) Bullish (0.28)

 

 

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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