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Afternoon Note

GOP Gets Something Done

By Charles Payne, CEO & Principal Analyst
10/5/2017 2:04 PM
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Well, economic data continues to come in better than expected with initial jobless claims and factory orders beating the street today.  The $471.7 billion in factory orders was paced by a $4.5 billion increase in new orders, which soared 3.1% ex-defense.

The real story today, however, is the GOP gets its act together and passes a budget in the House.  Like everything else, it doesn’t mean this is a done deal by any means.  That said, the market sent Washington, D.C., and Republicans, a clear message when the market spurted higher on the news.

 


 

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