The President has equity markets hanging on his every word when it comes to his tax-cut plan.
Yesterday, after speaking with the CEOs of all the major US airline carriers, Trump took the opportunity to play up his plan to cut taxes across the board for businesses and personal taxes.
Just after the release of the comments by the pool reporters, stocks took off to record triple-digit gains for the day.
Thursday’s market moves was the third time since taking office that the President has spoken about his tax plan and markets rally. At some point the Administration may get Treasury Secretary with the confirmation of Steve Mnuchin, in order to begin enacting the plan.
Given the run-up to the tax-cut comments, the market may have priced it in fully. So that when the details finally come out we could see a muted stock response on the news.
Quick follow-up on free-energy posts. Thanks for all the comments and emails. I will be keeping an eye on this topic and write it up when warranted.