Trump Tax Talk Takes Wall Street to Big League Highs

by
February 10, 2017

U.S. stocks hit record highs on Friday as investors cheered President Donald Trump’s vow to unveil a major tax reform plan in the coming weeks.

Trump’s promise of a “phenomenal” tax plan helped reignite a post-election rally, which had stalled in recent weeks on concerns over his administrative priorities and the lack of clarity on policy reforms.

“The market is saying, ‘Thank you for coming back to the very core of the reasons we have accepted your agenda’,” said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

The dollar index .DXY was up 0.3 percent to a three-week high of 101.01. Gold was down 0.3 percent.

Oil prices rose 2 percent after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January.

The S&P 500 energy index .SPNY was up 0.85 percent and gave the broader index its biggest boost. [O/R]

Industrial stocks .SPLRCI, which have been among the top gainers in the post-election rally, also rose 0.6 percent.

15 Comments - what are your thoughts?

  • Rob1911a1 says:

    Obama is just one of the group preparing to ‘freeze’ ALL financial institutions in the WORLD, confiscating everything we have in banks. This has already been done on a smaller scale; FDR ‘froze’ the markets in the early 1930s; Cyprus did it, and when banks re-opened, people could only take out ~440 dollars per week. Plus a 5% ‘fee’ was levied on the PEOPLE. Their are other examples; what they are preparing for now is a world wide ‘freeze’, and the taking of all wealth. Also, a new one world currency will be formulated. Of course, during the time when there is no money, no open banks, no credit or debit cards are working, the RIOTING will set in. It is called “ICE 9”.

  • justinwachin says:

    We need to remember President Trump has only been in office three weeks. He still has most of his four year term ahead of him. Considering his productivity this should scare Democrats. Everyone else needs to be ready for the next wave of TIP — Trump Induced Prosperity.

  • dmttbt says:

    I am still amazed that people think obama was good for our economy. He took a 9.6 trillion deficit and turned it into a 23 trillion deficit. They are saying that is good for the economy, whose economy is that good for.
    We have repubs and dems saying no wall after the voters of this country said yes wall. The politicians say we cannot afford a wall. Who do they think they are fooling? They are the reason we have a 23 trillion dollar deficit.
    People from all walks of life have investments in the stock market. They might not be aware of it but they do. We have that large deficit and that doesn’t include all the entitlements we cannot pay for. Our politicians call that progress. I call that BS.

    1. AKLady says:

      I am still amazed that there are Americans foolish enough to think that spending under one Presidential admonition ends on January 20th when another individual is sworn in.

      You may have said “yes, wall”. Hhowever, other Americans have not. We are old enough to remember Berlin. Walls can be used to keep people in as well as out.

      The reasons we have a $23 trillion deficit are two wars which were funded by money barrowed from China. In the past, the American people funded war through tax increases and the purchase of War Bonds. Those wars cost an average of $1 million per day, each.

      1. Retired says:

        If Clinton had done his job there would not have been a second war. Now you finally admit that China owns the US.. China is doing the same thing in the EU.

      2. gvette says:

        What a fucking idiot. The Berlin wall, spllt a city, not countrys. Can you see that from Alaska also!

        1. AKLady says:

          What an ignorant, sewer mouth.
          Not countries two different countries? Really?

          East Berlin was Communist, i.e. part of the Soviet Union.

          The wall symbolized a physical marker of the “Iron Curtain” that separated Western Europe and the Eastern Bloc during the Cold War.

          1. gvette says:

            Berlin=city. Do you know the fucking difference? City, country.

          2. AKLady says:

            Berlin was a “Special Area” created under the London Protocol. It was occupied by the three Allied Forces. https://en.wikipedia.org/wiki/East_Berlin. In effect, East Berlin was a city-state.

          3. gvette says:

            You’re trying to make yourself look smart. Didn’t work, by the way. Berlin is a city. Period. Oh it is the capitol city of Germany.

          4. AKLady says:

            I am smart. I have no need to prove it.
            Save your insults for someone you can impress.

      3. gvette says:

        We have a solemn obligation,” Obama said, “not to fudge the numbers or shade the truth about why they’re going, to care for their families while they’re gone, to tend to the soldiers upon their return, and to never ever go to war without enough troops to win the war and secure the peace.”

        In that spirit, here are some of those numbers.

        —2,499 U.S. soldiers have been killed in Afghanistan and Iraq so far under President Obama, according to the independent Iraq Coalition Casualty Count.

        —Of those, 1,906 have been killed in and around Afghanistan, and 593 in Iraq.

        —Under Obama, the United States has been at war for 2,687 days. That’s longer than under George W. Bush — or any other U.S. president, for that matter.

        —Obama has conducted airstrikes on seven countries: Afghanistan, Iraq, Pakistan, Somalia, Yemen, Libya and Syria. (That’s three more countries than George W. Bush bombed.)

        —U.S. combat forces are deployed on the ground in three countries: Iraq, Afghanistan and Syria. That’s one more war than Obama inherited, and which his successor will likely have to contend with.

        Just some facts for you AK. I know you hate facts.

    2. Devondlewis says:

      Google is paying 97$ per hour! Work for few hours & have longer with friends and family! !sh2c:
      On tuesday I got a great new Land Rover Range Rover from having earned $8752 this last four weeks.. Its the most-financialy rewarding I’ve had.. It sounds unbelievable but you wont forgive yourself if you don’t check it
      !sh29c:
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    3. Tiger says:

      They don’t know they will never know. They refuse to believe anything about him. I had one named Lizzie and I showed her video where O went to Europe this last time and met with riots everywhere. 100,000 Germans protesting the TPP crap, I showed her the EU video with O’s Stimulus Plan described as a road to Hell, I showed her how Cuba called him an ignorant Negro, lots of things she never knew because this damned Main Media, including FOX never showed.

      They don’t know anything about him and like a child raised by a mass murderer but never seeing anything but a loving father, they will NEVER believe what he and Hillary were and are.

    4. Valeriecgreen says:

      Google is paying 97$ per hour! Work for few hours & have longer with friends and family! !st28c:
      On tuesday I got a great new Land Rover Range Rover from having earned $8752 this last four weeks.. Its the most-financialy rewarding I’ve had.. It sounds unbelievable but you wont forgive yourself if you don’t check it
      !st28c:
      ➽➽
      ➽➽;➽➽ http://GoogleFinancialCashJobs318MediaSoundGetPaid$97/Hour ★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫::::::!st28c:….,……

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