Observers also believed that Trump will find it easier to pass through his policies, especially with Republicans controlling both the Senate and the House in Congress.
“Trump has a majority of both houses, so the likelihood of things getting done quicker than they usually do is higher,” Mark Spellman, portfolio manager at Alpine Funds, told Reuters. “He can fast-track a lot of policies which is typically not the case.”
Moreover, better-than-expected fourth quarter results help keep the momentum going. Of the 104 S&P 500 companies that have reported earnings, almost 70% have beat expectations, according to Thomson Reuters data.
“Earnings (growth) hasn’t been bad and there is some surprise to the upside too,” Kim Forrest, senior equity research analyst at Fort Pitt Capital Group, told Reuters.
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