August – 2017 Newsletter
For the most part, Wall Street continued clinging to its optimism over Donald Trump’s economic policies in August despite another tumultuous month for his administration. At the same time, we did see signs of worry creep in that Trump’s entire domestic agenda—including his tax plan—could be jeopardized by all the turmoil and distractions. Following the North Korea crisis and the fallout over Charlottesville, the Dow had its biggest one-day fall in over three months.1 We saw a similar slide back in March when Trump’s healthcare plan hit a brick wall. These are signs Wall Street knows it ultimately needs real reform to sustain its optimism, not just hope and promises.