The markets are flying today with the Dow up almost 200 points, the largest percentage gainer (up 0.08%), led by Caterpillar and 3M, while the Nasdaq is up 0.3% and the S&P500 up 0.2%.  Advancers led decliners 1526/1311 on the NYSE and 1570/1240 on the Nasdaq.

Of the eleven S&P500 sectors, 6 are firmly in the green:

• Financials +0.8%
• Industrials +0.7%
• Materials +0.5%
• Technology +0.4%
• Energy +0.3%
• Consumer Discretionary +0.2%

Real estate, healthcare, and consumer staples sectors are down the most, followed by the safe haven utilities and telecom.

Speaking of the market rocking, President Trump just had an interview at the White House on his way to a GOP Senate lunch.  He touted that the market has reached another new all-time high, the highest it has ever been, creating $5.4 trillion in market value. 

As for his tax plan, according to the President, it can be summarized in 3 simple ways “Jobs, Jobs, Jobs.”  Four trillion dollars could come back to the U.S., and faster if corporate tax rate was cut thus, generating lots more jobs.  He went on to say if the proposed tax rates were to pass, it would take tax rates to the lowest level in eighty years.   

On trade, President Trump said they are renegotiating deals and are ahead of schedule. 

On the energy front, WTI is up almost 1% to its best level in 6 months, climbing to $52.36, after comments from the Saudi energy minister on output cuts.  This afternoon, we will get the weekly inventory figures from the American Petroleum Institute (API), and tomorrow morning, we get the official numbers from the Department of Energy.  A drop in U.S. stockpiles of 2.5 million barrels is forecasted.