The Hussein Obama Era of Economic Surrender Is Over
Stocks ended the Week, and the Quarter, on a high note, driving the S&P 500 (+0.4%) higher for the 4th session running to record highs, as The Trump Rally extends.
- US GDP Revised Up to 3.1% in Q-2, exceeding economists expectations
Friday, US President Donald Trump said he’s working hard to help companies thrive, compete and grow.
“Under my administration, the era of economic surrender is over – and the rebirth of American Industry has begun,” President Trump told the National Association of Manufacturers Friday.
The Key, he said, is a “giant, beautiful, massive, the biggest ever in our country, tax cut.”
The pPresident and congressional Republicans this week released the outlines of a nearly $6 trillion tax cut plan. The plan would deeply reduce taxes for corporations, and simplify tax brackets and nearly double the standard deduction used by most tax filers.
President Trump addressed the National Association of Manufacturers in Washington, D.C.
He also cited the performance of the stock market, a talking point he signaled in a tweet prior to the speech.
Jay Timmons, president and CEO of the association, said President Trump has been a “tireless advocate” for manufacturers. Mr. Timmons said US manufacturers “have never been as enthusiastic or as optimistic about their economic future as they are this year, and that is because of the huge opportunity we have to get tax reform done.”
- September Chicago PMI (actual: 65.2 consensus 58.0; last 58.9)
- Final September Michigan Sentiment Index (MSI) (actual 95.1 consensus 95.4)
- US GDP revised Up to 3.1% in Q-2, exceeding economists expectations
Friday, for the Week and the Quarter the US major stock market indexes finished at: DJIA +23.89 at 22405.09, NAS Comp +42.51 at 6495.96, S&P 500 +9.30 at 2519.36
- NAS Comp +20.7% YTD
- DJIA +13.4% YTD
- S&P 500 +12.5% YTD
- Russell 2000 +9.9% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.52)||Very Bullish (0.58)||Very Bullish (0.60)||Bullish (0.38)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.42)||Very Bullish (0.56)||Bullish (0.44)||Bullish (0.25)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.35)||Bullish (0.31)||Bullish (0.27)||Bullish (0.46)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Very Bearish (-0.54)||Very Bearish (-0.59)||Bearish (-0.35)||Very Bearish (-0.67)|
Have a terrific weekend
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