Since Donald Trump was elected the 45th President of the United States, the markets have continued to rise steadily. The Dow Jones Industrial average has soared 12% or over 2,500 points to an all-time record high of over 20,800 points. The S&P 500 has also reached a new record high of over 2,300 after gaining 10% since last November. The S&P index has also attained $20 trillion dollar in market cap investments for the first time ever. The NASDAQ, meanwhile has gained over 10% since November of 2016, and is at a new record high of over 5,800.
There has been so much criticism levied against President Trump from opposing groups who are upset at his stance on immigration, the border wall along Mexico, his administration’s relationship with Russia, that you would think the markets would be down, but exactly the opposite has occurred. The markets have gone 86 straight trading sessions without a down day of more than 1% (longest since 2006), and before that: the mid 1990’s.
According to FactSet (which provides financial information and analytic software for investment professionals)
* 67% of S&P 500 companies have turned in better-than-expected earnings per share.
* 52% of companies have reported sales above average estimates.
Several stocks sectors are up substantially since the election including:
* Investment banks like Goldman Sachs
* Heavy machinery manufacture Caterpillar
* Airline builder: Boeing
* Technology companies like Apple and Tesla
* Also: steel-makers, and auto-makers & pharmaceutical companies
According to the latest survey from the American Association of Individual Investors–
“American confidence in the economy is at a 12 year high with consumers and businesses showing better-than-forecast optimism.”
Businesses are expecting corporate tax cuts of 20% on federal taxes and 20% on foreign tax rates, and Pres.Trump has hinted at a big tax announcement in a few weeks. The corporate business world seems to really like it when Trump uses so-called: “bombastic language” to promote his agenda. For example: he promised a “phenomenal tax plan” during a recent meeting at the White House with airline executives. So far President Trump has been able to show the business world that he has made meaningful progress on his pro-business agenda and he is still seen as very “Pro-business.”
But how long can it last?
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