3Dollars: Ash Wednesday 2017


Today was a market bonanza. The Dow hit 21,000 for the first time on a huge trading day. Here are today’s Three Dollars:

$1 Trump’s speech to the joint session of Congress was a hit on Wall Street. The President was credited for “sounding presidential” and he stayed away from details on policy or hot button issues (i.e. Russia). The market responded with >1% gains across the indexes.

$2 The Fed still seems poised to raise rates, which remains good for financials (BAC +3.64%, GS +1.87%).  The next major milestone is the March 14-15 Fed meeting.

$3 The administration seems to have learned some moderation in its roll-out of new policies which has allowed this market to continue to grow in the past few weeks. This is a good sign for the longevity of the bull market. Grab your attractive ETFs and ride this ride.

-Joe

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