Investors remain cautiously optimistic that the wall of worry that has been plaguing us for months may now be crumbling. That’s no sure thing, but at least we did have some good news this week.
For the second year in a row, President Donald Trump called on Congress to do something about the escalating drug prices in America. The president is doggedly pursuing this campaign promise in the face of an army of special interest groups and big drug companies. Hurrah for you, Mr. President.
Profit-taking is a natural and expected part of the stock market. That’s why no one should be surprised that this week we are witnessing a period of consolidation. It is actually a good thing.
After two years of tightening monetary policy, the U.S. Federal Reserve Bank signaled this week that it was time to put their monetary tightening program on hold. The stock market soared in celebration.