Torrid pace of gains has pushed index to highs unimaginable earlier this year, and analysts are putting lofty targets on where index will go next year.
U.S. stocks are on the verge of a level few thought they would see this year: 2600 on the S&P 500.
Stocks’ upward climb has defied many analysts early-year predictions for a 2017 stall, leaving some upgrading their year-end forecasts to account for the benchmark index’s double-digit gains. Bank of America, for example, initially called for the S&P to finish the year at 2300, while Deutsche Bank expected the broad index to end up at 2350—milestones the S&P has blown past in 2017.
The increasingly upbeat outlooks underscore analysts and investors’ belief that synchronized global growth, an expanding U.S. economy and companies’ strong profit reports can extend stocks’ rally even further. The optimism and fear of missing out on gains—the S&P 500 is up 16% so far for the year—has helped markets rebound quickly from pullbacks.
Later, 7:32 p.m. Central Time: diminished. That's the word that first came to mind when listening to the Obama press conference in Greece. The last time Obama made an international trip he said a) Trump was unfit to be president; and, b) that Trump would not be elected. Now Obama is eating crow: Trump has been elected president, and Obama has not reiterated that Trump is unfit for office. He is now reassuring the EU, NATO, and European allies that "everything will be okay" under Trump. Obama said this the same day a) GOP members in Congress were falling all over themselves to be the first in line to say they want to work with Trump; and, b) the stock market had the fifth consecutive day setting all-time highs. Obama looked "diminished." Talk about the "JV team." In less than seven days, Obama and his administration look like the JV team and the all-stars are about to enter the arena.
Talk about naïve. Slanted. Untrue. Inaccurate. Spin.
You have to read several paragraphs into the story to discover that the individual removed from Trump's transition team was a Chris Christie operative. Time for him to go. "You're fired." I love it: Trump is cleaning his own house.
Original Post
President Trump mentioned his "top 3 issues" on 60 Minutes on which he will focus. The tea leavessuggest:
every executive order issued by the Obama administration affecting the oil and gas industry will be reviewed by the new Interior Secretary; within 100 days he will act / not act on each of those executive orders
there will be lots of talk about trade wars but that talk will fade over time
all that silly talk about banning fracking is now off the table
all that silly talk about global warming is now off the table inside the White House
enthusiasm for wind and solar energy -- for so many reasons -- will fade away
the military will see a huge infusion of money for the active duty
no more bowing to foreign leaders; he will look them squarely in the eyes with a firm handshake
law-abiding illegal aliens have nothing to fear in the first Trump administration
illegal aliens with any outstanding warrant -- including unpaid parking tickets -- will start leaving the US in droves (we won't hear about that)
the US will re-negotiate from a position of a) a level playing field; and, b) from an "American first" doctrine
the EPA will have a new head, and new marching orders
the attorney general will be pushed to look into illegal voting in several states
tax reform will be high on his agenda
if GOP in the House does not "play ball" Trump will have plenty of allies on the other side of the aisle; I get the feeling he won't spend a lot of time spinning his wheels
