U.S. stocks poised to build on Trump tax-inspired gains

marketwatch.com ^ | February 10, 2017 | Barbara Kollmeyer

[John W]

U.S. stocks looked set for more gains Friday, after a record-breaking session inspired by President Donald Trump’s promise of a “phenomenal” announcement about his tax plan soon.

“We think that these movements could continue in the next few days, as the theme of tax and fiscal reform comes back under the market’s microscope and expectations build up further,” said Charalambos Pissouros, senior analyst at IronFX, in a note to clients.

The session could be dominated by further political headlines, as the U.S. leader is due to hold a meeting with Japan’s prime minister, Shinzo Abe.

“The suggestion is that today’s meeting will be about more than just two-way trade and should have a focus on a full range of economic ties, with Abe supposedly planning to discuss creating jobs and also building infrastructure in the U.S.,” said Jim Reid, strategist at Deutsche Bank, in a note to clients.

Reid also said investors will watch for more news on the temporary immigration ban ordered by Trump, after an appeals court has ruled against the White House, upholding the suspension of the ban.

[spirited irish]

No wonder global Progressives are foaming at the mouth and losing their minds! The earned wealth of tax-payers that they have been insidiously redistributing (plundering) to themselves and other people and nations at home and abroad who have not earned it, looks to be returning in some part to American wage-earners, the people that Progressive Leftists love to hate, punish, and trample upon.

[buckalfa]

I might get excited about the economy/market when tax cuts and deregulation are in place. Until then, pfft.

[John W]

We’ve been deep into it for quite a while even though we’re relatively close to retirement. Fake or propped up or whatever, we’re making money.

[John W]

Dow, S&P and Nasdaq hit fresh record highs as Trump trade resurges

Fred Imbert

CNBC February 10, 2017

U.S. equities opened higher on Friday, tracking for weekly gains, a day after President Donald Trump promised to release a tax plan in the near future.

“When he said the words ‘phenomenal tax plan, ‘ that gave hope to the market that we were going to get a tax plan sooner,” said Quincy Krosby, market strategist at Prudential Financial.

“He basically spurred the market, saying he hasn’t forgotten about tax reform. That issue was at the core of the market’s embrace of Trump’s agenda, along with deregulation.”

Trump said Thursday in a meeting with airline executives that “lowering the overall tax burden on American business is big league ... that’s coming along very well,”