57935
Dollar Falls, US Stocks End Higher After Trump Inauguration
Dollar Falls, US Stocks End Higher After Trump Inauguration

Dollar Falls, US Stocks End Higher After Trump Inauguration

Dollar Falls, US Stocks End Higher After Trump Inauguration

The dollar ended down while US stock indexes rose in the last day of a choppy trading week, as investors reacted to President Donald Trump’s inaugural speech.
US stocks started the day higher but gave up some gains after Trump started speaking. Some investors worried about the tone of the former reality TV star’s speech and others saw more negativity than optimism in his words, Reuters reported.
US Treasury yields fell from 2-1/2-week highs after the speech on concerns fiscal stimulus efforts may be delayed. The dollar, which has lost some momentum in recent weeks, was off 0.3% against six major currencies.
There has been a pause in the post-election market rally in risky assets such as equities amid questions over how Trump’s administration will carry out ambitious campaign promises of lower taxes, more government spending and looser regulations.
“I think folks priced in the good stuff in that first month and now they’re worried about inflation and what’s the Fed going to do, and a stronger dollar and trade wars and tariffs and the like,” said Phil Orlando, chief equity market strategist at Federated Investors in New York.
While stocks fell during Trump’s speech, Friday’s session marked the first time in more than 50 years that a new US president was welcomed by a rising market on his first day, according to Reuters data.
Trump promised to put “America first” and that the US would buy American and hire American.
“There’s a concern about what his trade policies will be,” said Jamie Cox, managing partner of Harris Financial Group, after he attended the inauguration in Washington D.C. “That’s probably the No. 1 area where Trump will have to tone down his rhetoric because we do have to work with other nations.”

 

Short URL : https://goo.gl/r34ghS
  1. https://goo.gl/2KjbHW
  • https://goo.gl/qjlWWt
  • https://goo.gl/naV4pI
  • https://goo.gl/ZDQVkr
  • https://goo.gl/RnSpcd

You can also read ...

Cybercrime cost has jumped by $155 billion since 2014.
Global businesses are losing the equivalent of nearly 1% of...
US Presses India to Cut Tariffs
US businesses and diplomats are pressing India to cut tariffs...
Pakistan to Be Placed Back on FATF List
Pakistan will be placed back onto an international terrorism-...
UAE Inflation  to Rise to 3.3%
Inflation is expected to rise to 3.3% in the UAE as the 5%...
Turkey will have the widest current account deficit this year at 4.5% of GDP, followed by Argentina and Colombia.
As the US and European countries embark on a monetary...
The ECB expressed more confidence that inflation would converge over time to its 2% target.
Released within 24 hours of each other this week, the minutes...
Europe’s main London, Frankfurt and Paris markets barely budged in early moves.
A stronger dollar and slightly higher global borrowing costs...
Fitch in November affirmed the country’s BB+ stable outlook rating.
Fitch, the ratings agency that cut South Africa’s sovereign...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus