Until yesterday, the prevailing Wall Street consensus was that in the absence of specifics from President Trump on his economic and fiscal plans, the market would be disappointed, and proceed to slide. It did not, in fact quite the opposite.
While most of America, even highly polarized democrats, was by and far satisfied - and in the case of Trump's fervent fans, delighted - by Trump's first address to Congress as confirmed by a CNN snap poll shortly after the speech, some were outright disappointed. Chief among them were Wall Street traders who had expected Trump to provide more details about his economic policies and some insight into how he plans on achieving his lofty goals.
As previously noted, while some traders on Wall Street were disappointed by the lack of specifics in Trump's speech, many others - and certainly Trump's group of core, faithful supporters - praised his "milder", more conciliatory tone, in a speech that was among his most "presidential" public addresses to date.
Below, courtesy of The Hill, are five of the key takeaways political pundits were left from Trump's address to Congress.
Trump’s speech was conventional, a relief to the GOP
In his much anticipated address to Congress that was widely described as "presidential" avoiding attacks on the media and Democrat opponents, even if once again thin on detail, President Donald Trump reaffirmed his pledge on infrastructure, defense spending and tax overhaul, in broad brush strokes, and judging by the surging futures and US Dollar this morning, investors are giving him the benefit of the doubt for now.
Attorney General Jeff Sessions claims the administration is intent on banning marijuana nationwide because it “makes people violent” and “Lady Gaga is addicted to it.” Describing himself as “heartbroken” when former President Obama spoke out in favor of marijuana, Sessions rebutted Obama’s observation that marijuana is safer than alcohol by citing a renowned expert on substance abuse: “Lady Gaga says she’s addicted to it and it is not harmless.“ Sessions told reporters on Monday, “Most of you probably know I don’t think America is going to be a better place when more people of all ages and