U.S. stock indexes opened higher on Thursday and the U.S. dollar continues to weaken against the euro following the release this morning from the Department of Labor of weekly initial jobless claims which rose to 245,000, unchanged from the previous week’s unrevised level of 245,000, but higher than consensus estimates.
President Trump tweeted on December 26th, “Stock Market is poised for another year of SUCCESS!” after claiming that all signs are that business is looking really good for next year, only to be helped by the tax cut bill. He also tweeted it will be a great year for Companies and Jobs.
All signs are that business is looking really good for next year, only to be helped further by our Tax Cut Bill. Will be a great year for Companies and JOBS! Stock Market is poised for another year of SUCCESS!
— Donald J. Trump (@realDonaldTrump) December 26, 2017
U.S. stock indexes are currently sitting on year end increases over 20 percent, boosted by hopes of U.S. tax cuts and the elimination of many regulations under the Trump administration, strong corporate earnings, an improving macro global environment helped by the ECB maintaining a loose monetary policy, and low volatility.
Despite solid stock fundamentals, valuations across many companies remain high and some investors question how much higher stocks could run in 2018.
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