Dow, S&P and Nasdaq all close at records on Trump tax cut talk | Seeking Alpha
Feb. 9, 2017 4:35 PM ET |By: Carl Surran , SA News Editor All three top stock market indexes closed at record highs, sparked by Pres. Trump's comments that he will make a "phenomenal" tax-related announcement in the coming weeks. "It's almost a resumption of the Trump trade," says Faraday Research market analyst Matt Weller, explaining today's gains. "In his acceptance speech, Trump talked about infrastructure and deregulation, but in recent weeks he'd gotten away from that... This is sort of reigniting those animal spirits." Investors shrugged off comments from Chicago Fed President Evans, an FOMC voting member this year, who reiterated that three rate hikes in 2017 may be reasonable. Financials (+1.4%) provided strong sector leadership, with JPMorgan Chase, Goldman Sachs, MetLife and Prudential all gaining between 1.5% and 3.0%. Energy (+0.9%) also outperformed, as U.S. crude oil settled 1.2% higher at $52.98/bbl on indications of better than expected U.S. gasoline demand. U.Read full article from Dow, S&P and Nasdaq all close at records on Trump tax cut talk | Seeking Alpha
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