Defying speculation 12 months ago that the years-long rally would be sorely tested during President Trump’s first year in office, the stock market has been riding a wave of continued optimism to repeatedly set fresh highs. Analysts give Trump some credit for the gains, mainly for pushing the tax-overhaul plan passed by Congress last week and reducing regulations. Many predict that the market -- as measured by the benchmark Standard & Poor’s 500 index -- should enjoy additional gains in 2018. “It suggests the overall global economy is on firm footing and expanding.”That has been reflected in foreign stock markets as well, with major indexes in Hong Kong, India and Brazil showing even stronger gains than the S&P 500. Los Angeles Times (Los Angeles Times)Consumer confidence, meanwhile, has risen for five consecutive months and remains at a 17-year high, according to the Conference Board trade group.

Source: Los Angeles Times December 24, 2017 13:52 UTC