The hope could continue to fuel bullishness on riskier assets amid speculation that the Trump administration’s policies could bolster U.S. economic growth without destabilizing the global economy.
Additionally, the markets may continue to maintain its momentum as a strong earnings season helps support equity valuations.
“So far the new administration has brought a pro-business approach and everyone is excited about that. But it’s not simple to get Congress and the House to agree on changes to the tax plan and regulation,” Blancato told Reuters. “We have seen relatively decent earnings and if we can hold that and if we get sales growth of over 3 percent then we’ll get a market that will grow higher.”
S&P 500 company revenue for the fourth quarter is projected to have increased 4.2%.
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