Hope on repealing and replacing Obamacare–and moving quickly on to tax cuts–returns to Wall Street

Hope on repealing and replacing Obamacare–and moving quickly on to tax cuts–returns to Wall Street

U.S. stocks rallied today on “news” that Republicans had reached a deal to repeal and replace Obamacare. The rally in U.S stocks today on that “news” is an indication of exactly how determined Wall Street is to believe that the Republicans who control Congress and the White House are ready to move on the anticipated big tax cuts that have fueled the most recent stages of this rally.

GDP growth in China ticks up to 6.9% for the first quarter

GDP growth in China ticks up to 6.9% for the first quarter

The National Bureau of Statistics reported that China’s GDP climbed by 6.9% in the first quarter. That’s a pick up from 6.8% growth in the fourth quarter of 2016 and marks a second-straight quarter of acceleration for China’s economy. It’s the first two-quarter acceleration in seven years. Economists surveyed by Bloomberg were projecting 6.8% growth