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Afternoon Note

All Eyes On Tax Reform

By Charles Payne, CEO & Principal Analyst
11/30/2017 1:21 PM
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The market came out the gate with gusto and picked up momentum on news Senator John McCain is a “yes” on the GOP tax plan which brings major tax reform especially for small businesses closer to reality.  The Dow is rocking, blowing through 24,000 up 347 points at midday. Both the Dow and the S&P hit new all-time highs this morning and the NASDAQ is making a good rebound after yesterday’s tech losses.

Financials and Industrials lead the way with broad participation and all sectors in the green. Leading Dow stocks include HD and CAT. Retail continues its impressive move and Industrials are cheering the Chicago PMI report.

Chicago PMI came in at 63.9 beating consensus estimates of 63.0. This is the best streak of 60+ readings for 3 consecutive months in 3.5 years. It’s another great number adding to the consistent message of strong economic data. 


Comments
Night and day, Obama vs Trump, MAGA!

Ernest Moyer on 11/30/2017 1:39:45 PM
 

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