TRUMP’S 100TH DAY IN OFFICE BRINGS NASDAQ RECORD BREAKING 6,000

Source CNBC

Today, is the offical 100th day of the Trump Administration. And today the Nasdaq broke its historic high of 6,000.  The stock market responded to solid earnings reports from top companies.  The Dow rose nearly 250 points, with Caterpillar leading the way. Markets generally rally base upon anticipation of future earnings and the market currently is bullish on President Trump’s tax cut policy he is introducing this week in Congress. Trump wants to cut the top corporate rate from 35% down to 15% to help encourage companies to move back to the US from low tax countries overseas. China for example has a zero capital tax rate.

Trump’s plan is part of an overall strategy to lower the national debt by growing the economy. According to White House sources, the US’s $20 trillion dollar debt cannot not be cut by simply cutting spending, although Trump has lowered spending already by $100 billion and tax increases would never add up to enough to pay off the debt. So, the only option Trump has to reduce the debt after Obama doubled the national debt in eight years is to grow the economy. President Trump’s pro-growth policies are his priority this week as he rolls out a huge tax cut for businesses and checks off another campaign promise.

Rob Lauer

Political Reporter

360Daily.net