Forex Marketz Daily Forex News – Fully Markets Update
US stock markets saw a mixed day overnight as the Dow Jones hit a new all-time high. Investors are still evaluating the prospects of economic growth under President-elect Donald Trump.
Investors are showing optimism because they are moving out of things that were working well and into things that were not working so well. Investors need to watch for any policy changes from the new Trump administration going into the transition period up and until January 21 when he takes the oath of office replacing outgoing President Barack Obama.
The Dow Jones Industrial Average (DJIA) was up nearly 20 points to finish a six day win streak. Goldman Sachs and UnitedHealth led the winners. The S&P 500 was breakeven on the day as information technology stocks fell 1.7 percent which offset a two percent gain in financial stocks. The Nasdaq Composite fell as Apple and the “FANG stocks” (Facebook, Amazon, Netflix and Alphabet) all fell lower.
Trump’s Policies are driving the Dow
Right now investors are trying to price in the Trump victory which saw the Republican Party retaining the majority in the House and Senate. There is a possibility for real fiscal policy change, but this remains to be seen if it will actually happen.
Looking at the small-cap Russel 2000, this small-cap benchmark has hit its first record high since June 2015. All three of the major indices, in the United States, traded higher at the open as they tried to build on the strong gains made last week. As mentioned above, traders are optimistic with a Trump victory leading towards less regulation of the financial industry as well as fiscal stimulus spending, but he is still a wildcard. There is a lot still up in the air and we are seeing some indecision set in.
