Connect with us

POLITICS

Dow Gains 150 Points Advancing to All Time Highs as Congress Prepares to Pass Trump Tax Cuts

Jacob Wohl

Published

on

Spread the Truth

Despite the inexplicable evil on display with more 50 people killed in Las Vegas, many expected the market to give up gains.

Instead, the Dow advanced more than 150 points to new all time highs, with firearm stocks leading the way ahead of the expectation of the passing of Trump Tax Reform.

From MarketWatch:

U.S. stock benchmarks closed at all-time highs on Monday afternoon, as equities resumed a steady run-up that could set the tone for the final three months of 2017. Four main benchmarks set records: the S&P 500 index, the Dow, the Nasdaq and the small-cap Russell, shaking off a mass shooting in Las Vegas that President Donald Trump described as “an act of pure evil.”

What are the stock benchmarks doing?

The S&P 500 index SPX, +0.39%  advanced by 9.76 points, or 0.4%, finishing at a record 2,529.12, powered by gains in the health-care and financials sectors, up 1% and 0.9%, respectively. The Dow Jones Industrial Average  DJIA, +0.68% added 152.51 points, or 0.7%, to a fresh all-time peak at 22,557.60, supported by gains in 3M CoMMM, +1.36% and Goldman Sachs Group IncGS, +1.46%

The Nasdaq Composite Index COMP, +0.32% meanwhile, tacked on 20.76 points, or 0.3%, to 6,516.72. The Russell 2000 Index RUT, +1.25%   also carved out a record, up 1.3% at 1,509.47.

What are strategists and traders saying?

“l think what’s driving the market is just optimism about the fourth quarter, along with expectations that results from the third quarter will be similar to the second quarter,” said Robert Pavlik, chief market strategist at Boston Private Wealth. He also said hope that the Trump administration will rework tax policy is supporting buying appetite, although doubts linger about that coming to fruition this year.

READ MORE

Jacob Wohl is the CEO and Head of Fixed Income and Interest Rates for Montgomery Assets, a proprietary trading and asset management firm based in Los Angeles, CA. Jacob Wohl is the host of the Offended America Podcast

Politics

POLITICS2 hours ago

Robert Mueller’s Coverup—How the FBI “Failed to Preserve” The Most Damning Peter Strzok Text Messages

Spread the TruthWhen anti-Trump, Pro-Clinton text messages between Peter Strzok, the FBI’s Former Deputy Head of Counterintelligence and Lisa Page,...

POLITICS2 days ago

Explosive FISA Memo Set to Rock DC and End Mueller Witch Hunt

Spread the TruthA storm is brewing in Washington DC. Deep State operatives are fearing the release of a four-page memo...

POLITICS1 week ago

What does facing a nuclear attack feel like? Ask Hawaiians

Spread the TruthThere’s a lot of discussions these days about the chance of a nuclear attack from North Korea. Americans...

POLITICS2 weeks ago

GOING ROGUE: Christopher Steele Will Expose Hillary’s Russian Collusion to Avoid Jail Time

Spread the TruthOn Friday, Senators Chuck Grassley and Lindsey Graham sent a formal referral to the Department of Justice, calling for federal...

POLITICS1 month ago

Report: Obama’s Leaks of National Security Information for Political Purposes Got Americans Killed

Spread the TruthTrump’s White House has been characterized by the media as a “leaky” operation. In absolute terms, they’re right....

POLITICS1 month ago

EXCLUSIVE: Imran Awan Was a Top Democrat Staffer By Day, Hezbollah Money Launderer By Night

Spread the TruthImran Awan started his Washingtonian career as an IT staffer for Florida Democrat Congressman Robert Wexler in 2004....

Featured1 month ago

Drugs, Guns and Human Trafficking—Inside Obama’s Secret Fight to Protect Hezbollah

Spread the TruthIn a stunning revelation, it was revealed that Obama would stop at nothing to achieve a nuclear deal...

POLITICS1 month ago

Why Trump Should Fire Mueller and Why Trump Won’t Fire Mueller

Spread the TruthRobert Mueller and his “unbiased” team have been plagued with issues from the day they began their investigation....

POLITICS1 month ago

Mueller’s Coup is Exposed as Peter Strzok’s Text Messages Come Out

Spread the TruthMore than 10 thousand text messages between Former Mueller investigator Peter Strzok and his mistress and fellow investigator...

POLITICS2 months ago

EXCLUSIVE: Robert Mueller Subpoenas Trump Banking Records from Capital One

Spread the TruthSpecial Counsel Robert Mueller has subpoenaed banking records belonging to President Trump, according to sources close to the...

POLITICS2 months ago

North Korea Crosses Trump’s Red Line. What now?

Spread the TruthOn Wednesday North Korea test-fired an intercontinental ballistic missile capable of delivering a warhead “Anywhere in the world”,...

POLITICS2 months ago

Insider Exposes Obama’s Deep State Coverup of Hillary Clinton’s Corruption

Spread the TruthOn Monday evening, a former inspector general for the intelligence community revealed the details of Obama’s deep-state coverup...

Listen to Stitcher
%d bloggers like this: