Talk of U.S. President Donald Trump's anticipated tax plan drove the main indexes to record highs. Fred Katayama reports.
It's the "Trump On" trade on Wall Street. The three major indexes hitting record highs after President Trump promised to announce what he called a "phenomenal" tax plan over the next few weeks. Airline stocks like JetBlue and Delta got a lift after Trump met with their CEOs and pledged to change the air traffic control system and upgrade infrastructure. ACSI Funds CEO Phil Bak: SOUNDBITE: PHIL BAK, CEO, ACSI FUNDS, (ENGLISH) SAYING: "Customer satisfaction is up broadly in the market. Consumer sentiment is up. And I think the news Trump meeting with the airline CEOs bodes well in terms of clearing out tax and regulatory burdens that will allow these companies to focus on the customer experience and the client experience and on increasing their revenues." More signs of a tightening job market: The number of Americans filing for unemployment benefits fell to a nearly 43 year low last week. In corporate news, Twitter shares plummeted. The microblogging company's quarterly revenue grew at its slowest rate since going public. Viacom rallied after the media company released its turnaround plan. It said it will put its might behind its Paramount movie studio and five of its cable TV brands including MTV and Nickelodeon. In Europe, healthcare and energy stocks drove the major markets higher.