Serious S&P, Dow hit record highs on Trump's comments, rolling good times, huat ah!

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An honorable member of the Coffee Shop Has Just Posted the Following:

http://www.reuters.com/article/us-us...-idUSKBN1661KL

The S&P 500 and the Dow Jones Industrial Average edged up to record intraday highs on Monday, after President Donald Trump's said he would make a "big" statement on infrastructure on Tuesday.

In a meeting with state governors on Monday, Trump said his administration would be "moving quickly" on regulatory reforms and that his tax plan would be released after a proposal on Obamacare.

Trump's first address to a joint session of Congress on Tuesday evening is being closely watched by investors for clues on how he planned to carry out his agenda of boosting economic growth.

"If we have a market that is willing to accept a roadmap that says we are going to repeal and replace Affordable Care Act and then have some form of tax reform by the August recess, I think the market will continue to be supportive," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.

Trump's promise a few weeks ago of a "phenomenal" tax announcement helped rekindle a post-election rally, driving the main U.S. markets to record highs.

But with details scant on how he planned to implement his agenda, investors have turned wary and the markets have traded range-bound.

The Dow hit its 11th straight record close on Friday, even though the index has not moved more than 1 percent in either direction since Dec. 7.

At 11:02 a.m. ET (1702 GMT) the Dow .DJI was up 6.69 points, or 0.03 percent, at 20,828.45

The S&P 500 .SPX was up 0.84 points, or 0.04 percent, at 2,368.18 and the Nasdaq Composite .IXIC was up 2.56 points, or 0.04 percent, at 5,847.87.

Six of the 11 major S&P 500 sectors were higher, with gains in energy .SPNY and financials .SPSY helping counter losses in consumer staples .SPLRCS.


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