Trump Victory On Health Care And Strong Economic Data Push Stocks To New All-Time High
President Donald Trump enjoyed a major legislative victory on May 4th, when the House of Representatives passed a bill to repeal and replace Obamacare. If the Senate and the House can reconcile their differences over the legislation, the savings on health care spending will pave the way for a major tax cut, stimulating the economy.
The drama in Washington, D.C. has dominated the headlines, stealing the spotlight from recently released data signaling that the economy is surprisingly strong.
The U.S. economy created 211,000 new jobs in April and the official unemployment rate dipped to a 10-year low of 4.4%.
Unemployment has not dipped below 4.4% since 2001.
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