Taxes, Trade, and Record Highs

The political world has presented many topics of conversation lately.  But one discussion has been relatively quiet: tax reform.  Last week, however, the president announced that a “phenomenal” tax plan is forthcoming, and domestic markets responded by reaching record highs.  In fact, we saw positive market performance even before the announcement, as the S&P 500 and Dow posted new records two days in a row, while the NASDAQ reached record highs every day except Monday.  By Friday, the Dow was up 0.99%, the NASDAQ added 1.19%, and the S&P 500 capped its fourth consecutive week of gains to increase by 0.81%.  On the other hand, the MSCI EAFE languished this week, posting a 0.03% loss.

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