Major averages fell yesterday on higher volume, breaking the 12-day up streak in the Dow Industrials. The higher volume was partly attributed to nervousness ahead of President Donald Trump's first address to Congress which went off smoothly.
As expected, the president reiterated plans for infrastructure spending of $1 trillion and repeated his desire to reform the tax code. His plans to cut taxes, repeal and replace the Affordable Care Act, bring down drug prices, and build up the military were nothing new, but underscored his pro-growth platform.
Futures are up more than half a percent.
Focus List Update
TTD had a follow-on offering of 6,331,991 shares at $35.50 per share. It was met with vigorous demand. Keep stops tight even though this stock has a compelling fundamental story as it takes digital advertising to a whole new level.
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