US Small-Business Optimism Highest in 10 Years
$DIA, $SPY, $QQQ, $VXX
US President Donald Trump’s vow to slash business regulations drove small-business optimism in January to the highest marks in more than 10 years.
Monday, we saw the executive order that was just signed on slashing the regulations that have been choking small businesses, and in the past 2 months since the election the small-business index has gone up, that is good news, that is likely translate into jobs.
The Paychex Report, released Tuesday, showed the Paychex/IHS Small Business Jobs Index rising to 100.62, up 0.13% in January, the 2nd month in a row to see improvement since February 2016.
President Donald Trump signed an order Monday designed to slash federal regulations
The President’s executive action will require that agencies cut 2 existing regulations for every new rule introduced and it will set an annual cap on the cost of new regulations.
For the rest of FY 2017, the cap will require that the cost of any additional regulations be completely offset by undoing existing rules.
The move does not cover independent agencies that crafted many of the rules required by the 2010 Dodd-Frank Wall Street reform law, including the Securities and Exchange Commission and the Commodity Futures Trading Commission, the White House said. Those will require separate actions
“There will be regulation, there will be control, but it will be normalized control,” President Trump said as he signed the order in the Oval Office, surrounded by a group of small business owners.
During a meeting with the business owners, President Trump described the Dodd-Frank law as “a disaster.” He asserted that it was “almost impossible now to start a small business and it’s virtually impossible to expand your existing business because of regulations.”
Respected economic gurus explain that the regulation strategy is all part of the President’s plan to truly “Make America Great.
A tax cut plus deregulation will give us 3.5% GDP.
Be patient and give him time, and tune out the noise.
Tuesday, the US major stock market indexes finished at: DJIA -107.04 at 19864.22, NAS Comp +1.07 at 5614.78, S&P 500 -2.03 at 2278.87
Volume: Trade on the NYSE was heavy with about 1.50-B/shares exchanged
- Russell 2000 +0.3% YTD
- DJIA +0.5% YTD
- S&P 500 1.8% YTD
- NAS Comp 4.3% YTD
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