Tuesday, 14 February 2017

S&P 500 tops USD 20 trillion as Wall Street trades on Trump

US equity indexes hit record highs on Monday, with the benchmark S&P 500's market value topping USD 20 trillion as investors bet tax cuts promised by President Donald Trump would boost the economy. Trump vowed last Thursday to make a major tax announcement over the next few weeks, adding fuel to a rally that had stalled amid worries about the potential impact of his protectionist trade stance and a lack of clarity about other policy reforms. 

The S&P 500 has surged about 9 percent since Trump's Nov. 8 election, boosted by expectations he would lower corporate taxes, ease regulations governing banks and increased infrastructure spending. Trump has also held high-profile meetings with senior executives from automakers and Silicon Valley technology companies.

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