So Far, So Good? Dow Jumps 150 Points as Selloff Fears Fade

The Dow Jones Industrial Average ended its eight-day losing streak today as consumer confidence surged, a Fed speaker suggested just two more rate hikes this year , and President Donald J. Trump did away with Obama-era climate regulations . The S&P 500 gained 0.7% to 2,358.57 today, while the Dow Jones Industrial Average rose 150.52 points, or 0.7%, to 20,701.50. The Nasdaq Composite advanced 0.6% to 5,875.14. The Dow's losing streak was spurred, in part, by the failure of the Republicans to repeal and replace Obamacare. It wasn't the death (?) of health-care reform itself, but what it meant for Trump's pro-growth policies like tax cuts and infrastructure spending that caused investors to worry that caused stocks to fall. Trump's pro Deutsche Bank's Binky Chadha and team, however, argue that "large disruptive policy changes [are] a negative risk rather than a positive catalyst." They explain why: