The market has dealt with a hefty dose of volatility over the last few weeks, as traders tried to digest exactly what incoming President Trump will do. This week marked his first full week of power and, with that, volatility came back with a vengeance. Initially, traders still questioned the new leader’s ability to navigate a divided Congress and whether he would be able to deliver on his promises. With executive orders in hand, investors got what they wanted and the week ended on a higher note. This included finally hitting the critical 20,000 mark on the Dow Jones Industrial Average.
Data this week was both light and mixed. Metrics painted a rather bullish economic picture, but that picture was a bit cloudier as several data points in housing and labor dipped lower than expected.
As for earnings, this round of quarterly profits painted a mixed picture again. Near term, profits have continued to rise. However, guidance figures remain cautious as many firms are still uncertain about Trump and his policies.
In the end, stocks marched higher. But those higher gains came with a roller coaster ride.
Check out last week’s Market Glance here.