According to many experts, big, bold tax cuts are expected to boost investment sentiment for 2017 and 2018.
According to Trennert, deregulation in the energy sector and promised reforms, if implemented, could provide significant opportunities.
According to Jason Trennert, CEO of Strategas Research Partners, the market rallies are getting partial support from President Trump’s economic reforms.
Soft economic data suggest an optimistic outlook that will rely heavily on the Trump administration pushing forward with tax reforms and infrastructure spending.
A week of political unrest in the United States (SPY) (QQQ) led to losses across indexes, but they regained by May 19, 2017.
Consumer prices in India (EPI) increased ~3.0% on a year-over-year basis in April 2017, compared to an ~3.8% rise in March—well below its market expectations.
Recently, the Indian government revised the base year for calculating macroeconomic indicators from 2004–2005 to 2011–2012.
The implementation of the Goods and Services Tax (or GST) is expected to boost India’s medium-term economic growth above 8%, according to government data.
Consumer spending in India (INDL) stood at ~17.8 trillion rupees in 4Q16, an 11% increase compared to 16.0 trillion rupees in 3Q16.
India’s trade gap increased 173.5% on a year-over-year basis to ~$13.3 billion in April 2017, beating the market’s expectations of an ~$12.8 billion gap.
India’s stock market performance has picked up pace since the beginning of 2017. The S&P BSE Sensex has gained about 10% year-to-date through May 18, 2017.
India’s equity markets are soaring so far in 2017, pushing valuations above their long-term averages. India’s economy is scoring well due to high GDP growth and government reforms.
The tech sector has been the best-performing sector YTD (year-to- date). The sector has returned 16.9% YTD through May 19, 2017.
It’s important to track the performance of these indicators in order to identify the movement of the global market.
The University of Michigan Consumer Sentiment Index, released on May 12, 2017, rose to 97.7 from 97.0 in April 2017.
According to the United States Census Bureau data on May 12, 2017, US retail sales rose 0.40% in April 2017, which was below market expectations of a 0.60% rise.
According to the Bureau of Labor Statistics, the Consumer Price Index for the United States was 0.20% in April 2017 compared to -0.30% in March 2017.
According to Markit Economics, the Japan Manufacturing PMI was 52.2 in April 2017 compared to 52.9 in March. It met market expectations.
Investor confidence in the Eurozone (FEZ) (VGK) rose significantly in the first week of May 2017. The Sentix Investor Confidence Index reported a figure of 27.4 as of May 8.
According to a report by Markit Economics, the UK Services PMI (Purchasing Managers’ Index) stood at 55.8 in April 2017 compared to 55.0 in March.