For investors, the healthcare debacle was just the warm-up act for the Trump administration production they really want to see: tax cuts. Anticipation of those tax cuts are a big reason that investors have pushed stock prices up 12% since Trump’s election. “I would say that we will probably start going very, very strongly for the big tax cuts and tax reform. But it also reflects that the financial effects of healthcare reform were largely limited to insurers, hospitals and drugmakers. Earlier Friday, Treasury Secretary Steven Mnuchin reiterated the administration’s August goal for tax reform.

Source: Los Angeles Times March 24, 2017 23:26 UTC