In his first State of the Union speech, President Trump didn’t have any surprises for the markets (SPY). At the annual State of the Union meeting, President Trump addressed a joint session of Congress. The address included an economic report for the nation, the US legislative agenda, and key national priorities.
President Trump stayed away from any surprise statements that could have spooked the markets. There weren’t any complaints about trade disadvantages that exist with China or Europe. He stuck to the theme of the address. which was “a safe, strong, and proud America.”
Key points in the address
President Trump stuck to a script throughout the 100-minute address. He highlighted the administration’s achievements. He talked about the benefits of the tax cuts announced in December for individuals and businesses. President Trump highlighted the US economy’s (VOO) overall development. He highlighted rising drug (PJP) prices and stressed the need to make generic medicines available, which could help lower healthcare (IXJ) costs. He mentioned repealing Obamacare, proposed changes to immigration policies, and discussed future plans for infrastructure spending.
Relief for markets
Financial markets (QQQ) were gripped with anxiety before President Trump’s State of the Union speech. They were concerns that his comments might dampen global trade expectations. However, no surprise measures were mentioned. President Trump’s comments weren’t unfriendly towards the markets. In the next part, we’ll discuss how the markets reacted to President Trump’s speech.