U.S. stocks have surged in the wake of President Donald Trump’s election day win as traders bet that reduced regulations, increased fiscal spending and tax cuts would bolster the economy.
“Better-than-expected fourth quarter earnings, a good economy and President Trump’s pro-growth agenda serve as the basis for our constructive outlook,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, told the Wall Street Journal.
However, the dearth in details regarding the Trump administration’s policies and the president’s focus on isolationist policies have perturbed investors.
“We’ve seen a bit of the honeymoon period for Trump come undone,” Stephen Gallo, strategist at BMO Capital Markets, told the WSJ.
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