January’s Cover Highlights;
DOW 20,000
SPX 2,300
SPX, INDU, COMPQ, NDX, NYA, and
TRAN ALL-TIME HIGHS
PRESIDENT TRUMP INAUGURATION
1/20/17
TRUMP SIGNS EXECUTIVE ORDERS
POUND IS POUNDED
GLOBAL POPULISM
The month of January is historic
with the Dow Jones Industrials printing above 20,000 for the first time in
history. The next day the SPX prints above 2,300 for the first time ever. The
chronology describes the epic event as it occurs in real-time highlighting the
companies and sectors that put the indexes over the top.
The bulls continue buying stocks
with reckless abandon believing in President Trump’s promises of
infrastructures spending, reduced regulations and lower taxes and of course the
ongoing belief and trust in the central bankers. The S&P 500, Dow Jones
Industrials, Nasdaq Composite, Nasdaq 100, NYSE Composite and Dow Jones
Transports all print all-time record highs in January although interestingly,
the Russell 2000 small caps are still unable to rise above their early December
highs.
President Trump is officially in
office and begins his four-year term. President Obama rides off into the sunset
dumping a host of problems in Trump’s lap. But such is the fate of all newly
elected presidents. President Trump begins signing executive orders like a
madman making good on campaign promises but one-half of the country is in a
tizzy over the actions.
The Italian banking problem
continues to fester and stink like garbage in the hot summer sun. Central bankers
are figuring a way to bailout the troubled Italian, Spanish and Portuguese
banks. Portugal markets are very sick but no one is paying attention.
The UK’s pound is pounded to the
1.19-1.20 area but sterling recovers back above 1.24 in early February. The
global populism movement continues with elections on tap this spring in
Netherlands and France. LePen is gaining in the polls causing angst across
Europe.
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