(Reuters) - U. S. stocks hit record highs shortly after the open on Friday, a day after President
Donald Trump said he would release a major tax reform plan in the coming weeks.
Jeb Hensarling, the Republican chairman of a key House of Representatives committee, laid out his plan to roll back Wall Street
and consumer protection rules, which were put in place after the 2008 financial crisis, according to a staff memo seen by Reuters on Thursday.
Trump’s promise of a "phenomenal" tax plan helped reignite a post-election rally, which had stalled
in recent weeks on concerns over his protectionist stand and the lack of clarity on his policies.
The biggest theme for investors is that Trump’s tax plan will move quickly and he has always maintained
that it is going to be very aggressive, said Uriel Cohen, founder of Alpine Global in New York.