S&P 500 tops $20 trillion

Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., December 21, 2016. REUTERS/Andrew Kelly

Traders work on the floor at the New York Stock Exchange.

http://www.reuters.com/article/us-usa-stocks-idUSKBN15S1D3

U.S. equity indexes hit record highs on Monday, with the benchmark S&P 500’s market value topping $20 trillion as investors bet tax cuts promised by President Donald Trump would boost the economy.

Trump vowed last Thursday to make a major tax announcement over the next few weeks, adding fuel to a rally that had stalled amid worries about the potential impact of his protectionist trade stance and a lack of clarity about other policy reforms.

The S&P 500 has surged about 9 percent since Trump’s Nov. 8 election, boosted by expectations he would lower corporate taxes, ease regulations governing banks and increase infrastructure spending.

Trump has also held high-profile meetings with senior executives from automakers and Silicon Valley technology companies.

“Day after day, corporate executives from a variety of industries are being brought to the White House to consult with the president. Business does seem to be back in the driver’s seat, and I think that’s why people are willing to pay up a little bit more for stocks,” said Jamie Cox, managing partner of Harris Financial Group in Richmond, Virginia.

The S&P 500 financials index .SPSY jumped 1.1 percent, with Citigroup (C.N) up 2.3 percent. The industrial sector .SPLRCI gained 1 percent. The two sectors are seen benefiting heavily from Trump’s policies.

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the rally is back on..it lost a bit of steam but is back on course again..

“U.S. equity indexes hit record highs on Monday, with the benchmark S&P 500’s market value topping $20 trillion”

value is different to worth imo..

“The S&P 500 has surged about 9 percent since Trump’s Nov. 8 election, boosted by expectations he would lower corporate taxes, ease regulations governing banks and increase infrastructure spending.”

it seems wall street likes trump..but we knew they would..

401

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~ by seeker401 on February 15, 2017.

7 Responses to “S&P 500 tops $20 trillion”

  1. ” ease regulations governing banks ? ” since they have shown they are very responsible at self regulation – phew !

  2. Reblogged this on World Peace Forum.

  3. […] S&P 500 tops $20 trillion […]

  4. Overvalued “nothings” Reason for high value must be the high unemployment rate, US 17 trillion dollar debt and the “austerity” for the people in a contraction of the economy, the hit from the totally unregulated banksters.

    The bankers unregulated stack market is just a computer program, it says whatever the banksters want, company values are fabricated for profit and are not real.
    The stock market is entirely fake.

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