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The Market Wrap for December 2: Tiffany’s Loses Its Luster Under Trump

Aaron Levitt Dec 02, 2016

After last week’s short trading week, stocks continued their climb as traders were treated to a ton of good news. Since being elected president, many investors have viewed Trump’s pro-growth policies as favorable. At the same time, data and earnings have been stronger than in weeks/months past. In the end, stocks continued to march higher and to make record highs. (Check out last week’s Market Wrap here.)

Supporting those highs were better-than-expected data on numerous fronts. Measures of labor, manufacturing and consumer health all came in bullish. As did the ultimate gauge of the economy, the United States Gross Domestic Product (GDP) figure.

Meanwhile, earnings have been better than expected across many firms. While the quarter has pretty much ended, those firms still reporting have shown positive profits, revenues and future guidance figures.

At the end of the week, stocks managed to continue their torrid rise.

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