P Spx: Policies Trump and Infrastructure Spending

p spx: The improved views coincide with a strong stock market rally that has taken major indexes to repeated records and has put the Dow Jones Industrial Average DJIA, -0.60% within striking distance of 20,000, a key psychological level, according to Market Watch. The S&P 500 SPX, -0.81% is up more than 5.5% since the election, a move that accounts for more than half of its year-to-date gain of 10.4%. Investors are betting that the policies Trump is expected to support including massive corporate tax cuts, heavy infrastructure spending and environmental and financial deregulation will accelerate the growth in corporate profits and economic expansion that has recently been seen. Levels of bullishness have surged over the past month, according to the latest Bank of America Merrill Lynch survey of fund managers, with a majority of investors now expecting improvements in both global growth and corporate profits over the coming year. Few details on the incoming administration policies have been released thus far. According to the monthly report, a net of 57% of surveyed investors forecast global growth, a 19-month high and up from net 35% in November. With expectations of growth, inflation and corporate profits at multi-year highs, Wall Street is sending a strong signal that it is bullish, Michael Hartnett, the chief investment strategist of B. of A. Merrill Lynch Global Research wrote in a note. (news.financializer.com). As reported in the news.