Investors shouldn’t be surprised that the recently invigorated stock market has pulled back some in recent days, frustrating the drive to pierce the just-out-of-reach 20,000 level for the Dow Jones industrials. Investors seemed determined to cheer the markets rally largely based on expectations that Mr. Trump’s policies will greatly work in favor of economic growth. Indeed, the traditional year-end rally should enhance the current Trump rally as a way of introducing a more positive outlook for the stock market next year.
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