“Stocks are ripping because of President Trump’s comments,” R.J. Grant, director of equity trading at KBW Inc., who said he noticed a pickup in the S&P 500 and financial shares “almost exactly when those comments hit the tape.”
Trump also revealed to airline executives that he will cut regulations and fund infrastructure upgrades, which he argued would help their companies hire more workers.
U.S. equities have strengthened since Trump’s election day win on hopes that the new administration would enact policies to stoke economic growth and bolster corporate profits. While the Trump trade has stalled in recent weeks as the markets have patiently waited on the new president to clarify his positions, equities are finally pushing higher on election campaign promises that Trump is beginning to make good on.
“We’re finally seeing some of the proposed policies being put into place,” Chris Gaffney, president of world markets at EverBank, said told Reuters.
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