29th March 2017

Just as quickly as the markets faded on Monday, they recovered lost ground on Tuesday, illustrating the schizophrenic investor mood that is prevalent these days. US equity markets ended sharply higher, with the Dow gaining roughly 150 points, while the S&P-500 and NASDAQ each rose by 35 points and 17 points, respectively. It seems that the defeat of the healthcare package is being viewed by some as a blessing in disguise, since it could force the Trump administration into working more closely with Congress on tax legislation, which now moves to the front of the queue and is of more interest to participants.