I have little reason to comment on the NY stock market because I don’t know what will happen. But I do know what has happened.
There has been a large movement into Exchange Traded Funds (ETFs) holding the NY Stock market basket of stocks. This reliably coincides with a recent rapid increase in the NY Stock Market Average (DJIA).
It would be hard to argue anything other than this movement reflects optimism among the broad base of investors about the future of corporate stocks in the Trump administration. Especially if one looks at the DJIA since the election when the average was at 18K and in the 3 months of the Trump Era it has risen to 20K.
I personally have been mostly out of the NY Stock market; slowly returning with specific stocks that I see having a growing global market. My anxiety about the dangerous repo (very short term funds) market has kept me from investing aggressively. I will wait until changes are made in the Dodd-Frank legislation that will allow banks to return to the repo market. With all the finance guys in cabinet positions this should happen in less than 6 months.
The repo market protects us from very abrupt changes in the money market because it allows for very short term borrowing. Borrowing for one day if necessary. We need that to avoid serious financial and price discontinuities.
The Trump stock market may be the first sign of 'rational choice' I have ever seen in a price market.