Trump is now President Trump and immediately on the White House website there is a post that the administration will create 25M jobs, grow GDP at 4%, and lower taxes for all Americans as Trump vows to transfer power from "Washington to the people." All in a day's work I suppose.
Stocks started higher then skid into the ceremony. The past half hour they have rebounded. All the while they held the positive. Doesn't look as if it will be a Dow 20K inauguration as the acceptance speech was, of course, light on details. Still waiting for the executive orders to be signed and that may provide some lift -- or may not.
SP500 6.50, 0.29%
NASDAQ 14.11, 0.25%
DJ30 72.49, 0.36%
SP400 0.49%
RUTX 0.44%
SOX 1.50%
We picked up some ATHM early as it continued the move only to see it spit the bait back at us. Picked up some VMW and it is working pretty well enough.
For now mostly watching what the shakeout will be in the afternoon session. For now SPY has recovered to the opening price.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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