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Stocks spent most of the day on Thursdays with modestly negative returns but rallied into the close to end the day mixed and nearly flat. The S&P was down for the first time in 8 days while the Nasdaq 100 (QQQ) was down for the first time in 10, if you want to call -0.03% a loss. The Dow was up 8-points so that's 6 positive days in a row.
Stocks opened lower again on Wednesday but it didn't take long for that to turnaround, and more comments from President Trump about his new tax plan sent stock flying into the afternoon with solid gains and new highs across the board.
Stocks opened on the downside on Tuesday but immediately caught a bid and after the magic of a Janet Yellen congressional hearing, stocks accelerated to the upside closing at the highs of the day with the Dow, S&P, Nasdaq, and Russell 2000 all closing at another all-time high.
Stocks rallied again on Monday as the change in economic growth perception has investors racing into the market. Percentage-wise is was a good day as we saw 0.5% gain in the S&P and Nasdaq, while small caps added about half of that. The Dow was up a bit more percentage-wise jumping 143-points.
Triple digit gains are welcomed by investors and can get those emotional juices flowing, but they aren't what they used to be. Eight years ago a 100-point gain in the Dow was gain of 1.42%.
It wasn't a huge rally, but 0.33% - 0.56% is more solid gains added onto the Thursday big day so the Trump taxes comment rally got some follow-through. The Dow gained 97-points on Friday and small caps outpaced the large caps and the international stocks, with a gain in the dollar partially responsible.