Corporations and investors around the world will be tuned into U.S. President Donald Trump’s prime-time address to both houses of Congress tonight, watching to see if the president plans to act on campaign pledges to lower corporate taxes, cut regulations and spend big-league on infrastructure and defence.
U.S. financial markets have been on a tear since Trump was elected last November, hitting record highs at least in part in anticipation of a pro-business agenda backed by the Republican Congress.
But Trump’s unpredictable behaviour has also spooked Wall Street at times, leading to uncertainty about how the 45th president might steer the U.S. economy. Tonight’s speech will provide more data for investors to chew on as they place their bets for the future.
If stocks are going to continue making Trump-inspired gains, said one analyst, the president will have to avoid populist themes during his address and focus on business-friendly policies.
“The markets will be…