The stock market is doing well, you were right there. There’s a ton of topics that could be discussed, but a few short points.
- The Dow was up 5000 points last year to put the 300 points in perspective.
– The Dow measures 30 companies, total, so it is, by nature, volatile.
– There are a ton of things that can affect perception, Trump’s speech is just one of those (perception affects movement, movement affects pricing, pricing is reflected in the indexes like the Dow)
I’d guess the date marking a year of Trump in office probably has more to do with the change today than the speech itself. Trump’s pro-business policies have been figured in to market prices, it’s a new tax year, and some people will see it as time to cash out their gains.
More importantly, and having a bigger effect I would think, the announcement today by Bezos, Buffet, and Chase regarding changing healthcare is a big, calculated, move. That’s a huge part of the economy, and those are big players who a lot of people look to for advice. That worries anyone holding those stocks.