Politics

Dow Sets 10th Record Close After Trump’s Jobs Pledge

Wall Street investors are as optimistic as they’ve been in a decade about the prospects of the American economy under the Trump administration.

While Barack Obama delivered nothing more than empty rhetoric and bogus statistics about jobs ‘saved’, Trump is already delivering on agreements with companies to build in America and add jobs.

It’s no surprise the Dow is responding.

Here’s┬ámore from Newsmax

U.S. stocks edged higher on Thursday, buoyed by energy stocks and a renewed pledge by President Donald Trump to chief executives of major U.S. companies to bring back millions of jobs to the United States.

At a meeting with about two dozen chief executives, Trump said he plans to bring millions of jobs back to the United States, without revealing a specific plan on how to counter a decades-long fall in factory jobs.

“We have seen quite a bit about that conference of business leaders with some extremely positive comments about the administration and their facilitation of a more pro-business-friendly environment,” said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

“That sort of endorsement from some of the major corporations around the country and around the world suggests to investors that this is a new era.”

Trump is expected to introduce a series of proposals that could benefit companies, including tax reforms, a reduction in regulation and increased infrastructure spending that were a part of his election campaign.

Those promises have helped spur equities to record highs, with the S&P 500 up more than 10 percent since the election.

Investors, however, are looking for more clarity on the proposals, which has kept the benchmark S&P index in a tight daily trading range. It has failed to register a move of at least one percent in either direction since Dec. 7.

Trump is scheduled to address a joint session of Congress on Feb. 28.

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