| It is hard to imagine a less likely President than Donald J. Trump, yet there is no doubt that his election success has been well received by the markets. When Hillary Clinton accepted defeat last November the most widely reported US stock market index, the Dow Jones Industrial Average, was trading below 19,000 points, but in the intervening 12 months or so it has climbed steadily and is now hovering around 23,000 for the first time in history.
The President's business-friendly policies of deregulation, higher infrastructure spending and tax reductions would provide a massive boost to the economy if he could actually get the legislation onto the statute books. Despite the fact that he is yet to deliver on any of these areas, the potential benefits have been enough to propel the Dow Jones and the broader S&P 500 index to record highs. | 
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