Posted on 03/01/2017 12:23:03 PM PST by drewh
Stock-market indexes set a new round of records Wednesday as investors welcomed President Donald Trump’s tone during his address to a joint session of Congress.
Some analysts suggested that the absence of protectionist comments as well as his overall tone that was perceived as “presidential” instilled confidence among investors, sending global equity markets higher.
“The economy is doing well, as we can see from today’s inflation and manufacturing numbers and any additional stimulus will put it into even a higher gear, and stock markets like that,” said Mark Kepner, managing director of sales and trading at Themis Trading.
If the Dow closes at current levels, the average will have run from 20,000 to 21,000 in 24 sessions, tying a record set in 1999 for the shortest 1,000-point gain.
“Now, earnings are picking up and we’re breaking out in quick fashion,” said Detrick. “The concern now is if we got to 22,000 quickly and hit a blowoff top. Some pullback is normal and we want to see a correction. No more than 5% to 7% would be perfectly normal considering the rally since the election.”
“For now, it seems that investors are content with the reasonable tone of the president, while impending rate hikes are seen in the context of improving economy,” Krosby said.
The manufacturing index from the Institute for Supply Management rose to 57.7% in February, its best level in more than two years.
Trump delivered his address to Congress after the market’s close Tuesday. In what many saw as a rather reserved speech, the U.S. president promised “massive tax relief” for the middle class and tax cuts for corporations.
(Excerpt) Read more at marketwatch.com ...
There were plenty of protectionist comments, by the way.
Is this a Bull Markrt?
“We moved past a human solution to our problems years ago”.
Exactly! Too bad more people don’t grasp that fact.
This is why I was very excited that Trump won, but don’t see it making much difference in the long run.
But it’s HUGE in the short run. The antics of the press and the left has been high comedy and a strong source of entertainment for me. Their exposure as the culture of hate is also an important outcome of this election.
But in the end, the only thing that would really fix this is crippling austerity, and nobody is going to go for that.
this is a TRUMP bump!
“Some analysts suggested that the absence of protectionist comments...”
Setting up for a massive, spectacular crash.
**************
How massive? How spectacular? Since you are predicting this event, how large in percentage terms are you expecting it to be?
If you firmly believe this, you should be shorting the market big time. Having such foresight could make you a wealthy person in short order.
I’ve been through many market cycles and corrections. Even a crash or two. Very few people ever see a crash coming, just like few people foresaw the spectacular run in the market that we are currently seeing in the wake of Trump’s election.
The point is, corrections are common but crashes not so much. Being able to predict them is nearly impossible.
will it turn into a TRUMPede?
I hope we get some jobs back before that.
“The economy is doing well”
Sorry. The conclusion is unwarranted. The DOW is not the economy. The DOW is showing a high degree of optimism about the economy. The recovery is on the way. Trump has been in office only about 1 month.
I see a crash coming that leads to a system reset worldwide, and out of that, Mark of the Beast controls imposed on everyone. You won’t see it coming. It will be some “elite” group that decides the date and time, and then just flips a switch.
Not kidding.
This run-up of the stock market is purposeful so as to draw every last sucker into the market.
I expect it to be fully played out by late summer.
The US government has become a business. The other fools have never run any businesses, they were community thugs. This guy is a business man. They know he knows business.
We’re on the same page, friend.
For about a year, the market has moved not on fundamentals but rumors. Something is foul here.
The biggest losers of a manipulated market that runs on fairy dust, is investors looking to make some sort of capital gain. Since the market does not trade on fundamentals how do I set targets? Where and when do I buy and when do I sell? I think I would be a fool to go all in and ride the wave.
What if he and Congress clash so badly we don’t get any tax cuts?
I agree. The market is an insiders game completely divorced from economic reality.
Great comparison but needs to be updated to present tense
All this and in only 5 weeks!!!! This is incredible.
>>Setting up for a massive, spectacular crash.<<
That’s got my antennas up. Last big pull back was 2007. We are way long. Typically every seven years there is some sort of correction or recession.
I’m being very cautious at this point.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.