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.
Apple's 'Wonderlust' event will kick off Tuesday to showcase its newest products, including the iPhone 15 while Google is facing a federal antitrust lawsuit. Meanwhile, TikTok is rolling out ecommerce on its app.
Stocks opened lower in Tuesday's session on concerns over higher oil prices and after Monday's earnings report from Oracle that showed revenue came in weaker than expected.
The U.S. government is taking aim at what has been an indomitable empire: Google’s ubiquitous search engine that has become the internet’s main gateway.
