Leading Indicators Up, Trump Tax Cut Momentum Continues
$DIA, $SPY, $QQQ, $VXX
An Key economic indicator rose more than expected in December and President Donald Trump’s landmark tax cut will likely push it even higher in the near future.
Leading indicators rose 0.6% in December, more than the 0.5% expected by economists surveyed by Reuters. The index rose 0.4% in November, coming in line with expectations.
“The passing of the tax plan is likely to provide even more tailwind to the current expansion,” the Conference Board research director said in a statement.
The Index of Leading Economic Indicators is a closely followed indicator used to forecast global economic trends and take a pulse on the US economy.
The Conference Board determines a composite value based on 10 Key metrics, including manufacturers’ new orders, stock prices and average weekly unemployment claims to create the composite value.
The index is a closely followed indicator for how healthy the US economy is.
For his part, President Trump arrived in Switzerland Thursday to attend the World Economic Forum where he will drive his America First policy and seek more fair, reciprocal trade between the United States and its allies,
President Trump is the 1st US President invited to attend Davos since Bill Clinton in Y 2000.
“Our economy is now booming and with all I am doing, will only get better…Our country is finally WINNING again!” President Trump Tweeted.
The United States wants strong ties with its allies but wants to reduce chronic trade deficits with many of them.
“America First is not America alone,” said White House senior economic adviser Gary Cohn, who is in Davos with President Trump’s team. “When we grow, the world grows; when the world grows, we grow. We’re part of it, and we’re part of a world economy. And the President believes that.”
Thursday, the major US stock market indexes finished at: DJIA +140.67 at 26392.79, NAS Comp -3.89 at 7411.16, S&P 500 +1.71 at 2839.25
Volume: Trade on the NYSE came in at: 887-M/shares exchanged
- NAS Comp: +7.4% YTD
- DJIA: +6.8% YTD
- S&P 500: +6.2% YTD
- Russell 2000: +4.3% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.62)||Bullish (0.42)||Very Bullish (0.73)||Very Bullish (0.71)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Very Bullish (0.67)||Very Bullish (0.62)||Very Bullish (0.77)||Very Bullish (0.62)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.48)||Bullish (0.37)||Very Bullish (0.61)||Bullish (0.46)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.29)||Neutral (-0.05)||Bearish (-0.46)||Bearish (-0.38)|