The biggest market driver in the first weeks of the Trump administration will be just how efficiently it implements its plans, some strategists say.
The markets vacillated Friday around President Donald Trump’s inauguration. Major U.S. equity markets opened and closed in the green but endured choppy trading throughout the session, falling during the inauguration speech. Trump struck an isolationist tone, declaring “America first” and saying “protection will lead to great prosperity and strength.”
At approximately 20 minutes past noon, in the middle of Trump’s speech, an investor appeared to sell 55,000 S&P 500 E-mini futures contracts (about $6 billion). Stocks neared lows of the trading session. The price of gold edged higher, at one point piercing the $1,214 level. And it appeared the rally U.S. equities had seen since Election Day — the “Trump rally” — was on shaky ground.
Over the next few weeks, the markets’ performance will hinge on the Trump administration’s success in carrying out promises like tax cuts and the repeal of the Affordable Care Act, according to Gina Sanchez, CEO of Chantico Global.
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