Trump's State of the Union address highlighted his year-one milestones, including tax reform, expanded defense budget, and stock market performance. Ben Phillips, Chief Investment Officer at EventShares, was with us to discuss how the speech could impact markets.
Stocks rebounded from a 2-day sell-off the day after President Trump delivered his speech. Phillips says his tone was more presidential, and the markets were responding positively. Phillips highlighted tax reform as a catalyst for more gains for the year ahead, saying it is a major boost to many corporations.
President Trump called on Congress for a bill that raises $1.5 billion on infrastructure. EventShares created the first-ever policy driven portfolios. Phillips gave insight into which stocks could benefit based off policies from the GOP and Democrats. Phillips also said he was concerned stocks could be hitting a top.
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
