Markets Pass Another Milestone, as Investors Remain Fearless

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Markets Pass Another Milestone, as Investors Remain Fearless
Indeed, the view is taking hold that Mr. Trump, in so aggressively promoting policies aimed to stoke the economy and financial markets, has unleashed animal spirits — largely absent under President Barack Obama —
that are now reflected in ever rising consumer confidence indicators and a willingness to embrace risk in the stock market.
Mr. Van Saun said stock markets could plunge as much as 15 percent if the tax cut was derailed in Congress.
“The market has climbed a wall of worry, but now it seems as if there is nothing to worry about.”
That, Mr. Yardeni said, is itself something to worry about, because investors are throwing caution to the wind.
One of the longest stock-market booms in history continued its gravity-defying ascent Thursday, with investors cheering the prospect of deep corporate tax cuts
and the rollback of government regulations under President Trump.
According to Mr. Bilello, the stock analyst, a typical year will include three or four stock market corrections.
The latest large round number — surpassed after the Dow jumped 1.3 percent Thursday — arrived barely a month after the previous landmark.


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