Wall Street is down this week, mostly based on the data released this Thursday from energy sector stocks as oil prices dropped and financial institutions shares fell for the first time in six days.
To add to this unemployment also ticked up slightly this week but remained much lower than expected. Jobless claims rose by 5,000 to 239,000 in the week ended Feb. 11, a report from the Labor Department showed Thursday.
Optimism undeterred is perhaps the order of the day as Donald Trump has yet to unveil is new tax plan which should provide a boost to the middle class and reduce taxes for businesses. President Donald Trump's vow last week of tax cuts, and fueled by optimism that his plans for corporate deregulation will expand the economy making it cheaper to do business, at least within the borders of America.
However, there are concerns as so far Trump has not provided any substantial details on his plans for his aforementioned tax plans. Right now there is equal room for both possibilities of either a recession or economic growth.