Last week started off a little down on Monday, then flat on Tuesday and Wednesday. Thursday looked like it was going to be another boring day until President Trump made comments during an airline CEO meeting that he would present a “phenomenal” tax plan in a few weeks. Those comments were followed by a more legitimately positive article from The Hill that said Trump may be willing to cut entitlements to pay for tax cuts. Stocks jumped on the headlines and markets moved to all-time highs.
The momentum continued on Friday as political expectations continue to rise, and stocks rallied small in quiet trade. And with no news to break that momentum, stocks drifted higher into the close and with modest gains on the week.
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