From the Liveblog of
Friday, January 20, 2017
US stocks rise ahead of Trump inauguration
Add ToI as a Preferred Source on GoogleWall Street stocks opened higher today amid expectations of pro-growth economic policies from the new administration.
Trump’s election in November, coupled with the Republican sweep of Congress, have raised expectations for business-friendly policies, including tax cuts and regulatory rollbacks. US stocks bulldozed to multiple records in November and December, although the market has been choppy in recent weeks.
“The axiom that has made the rounds in recent weeks is that you ‘buy the election and sell the inauguration,’ which is to impart the view that upside will likely be harder to come by following the inauguration since a lot of hope wrapped up in potential policy actions has already been priced in,” said Briefing.com analyst Patrick O’Hare.
–AFP
The Times of Israel Community.