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OPINION

American Spirit - Contagious

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
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$3,000,000,000,000

What we are witnessing today is the renewal of the American Spirit

-President Trump

President Trump talked about a new national pride sweeping across the nation, and a “new surge of optimism that’s placing impossible dreams firmly within our grasp.”  Well, there are three trillion reasons why Americans should be more optimistic.   

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Wednesday was the best session for the Dow since November 7. The total market value, measured by the Wilshire 5000 since November 7, has rallied from a value of $22.0 trillion to $25.0 trillion. I don’t care who you are in America this will positively impact you.

Sector SPDR Fund

% Change

S&P 500 Index

 

+1.53%

Consumer Discretionary (XLY)

 

+1.21%

Consumer Staples (XLP)

 

+0.61%

Energy (XLE)

 

+2.33%

Financials (XLF)

 

+3.02%

Health Care (XLV)

 

+1.17%

Industrials (XLI)

 

+1.97%

Materials (XLB)

 

+2.15%

Real Estate (XLRE)

 

+0.03%

Technology (XLK)

 

+1.46%

Utilities (XLU)

-0.53%

 
 

Financials led the way even though President Trump didn’t mention dismantling the Dodd-Frank Act. I think there is a fair amount of excitement over banks being able to lend money to Main Street. 

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Meanwhile, the Dow Jones Transportation Index (DJT) set a new all-time high, giving credence to the rally and to the economy.

AK Steel (AKS) is hiking prices by $40 across-the-board, and China has announced plans to cut its steel production due to pollution concerns.  This is a perfect storm.

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