The Dow has 30 component stocks and every stock is its own story. We saw that last week when Apple soared, other stocks fell, so the Dow barely moved.
And Trump? His main effect has been his promises to do stuff that could affect profits.
A chart by Bloomberg News separates stocks into two camps. The yellow line is companies with low tax rates. The green line is companies that pay high tax rates.
Trump said he'd cut corporate taxes.
So high tax rate stocks rose 10% from the election to the inauguration - twice as much as those with already-low tax rates. But events intruded, raising questions about how much Trump and Congress could get done. Low tax rate stocks started looking better. Since the end of May they’ve been up more than companies looking for changes to the tax code. Investors trade on profits, not party.
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