February 9, 2017
A promise from President Trump for a major tax reform plan within the next few weeks boosted demand for stocks and lowered demand for bonds. The day's economic news is led by another very favorable jobless claims report where levels continue to edge toward new lows.
The Dow rose 0.6 percent for a new record at 20,172. Bond yields reversed much of the decline earlier in the week with the 10-year Treasury up 6 basis points to 2.40 percent. Like stocks, demand for the dollar picked up with the dollar index up 0.4 percent to 100.59. Oil moved back over $53 while gold eased slightly to $1,230.