Wall St eyes White House, with fears of rally falter

US Businessman-turned-President Donald Trump has seen Wall Street go
from strength to strength since he moved into the White House last
month.

A string of record highs have seen the Dow jump 5.5%, the S&P rise
5.3%, and the Nasdaq climb 4.4% during the first four and a half weeks
of his Presidency.
[Editors - this figures are based on the 20th jan to today's closing figure]

But with campaign promises still unfulfilled, there are fears the
rally could be about to hit a rut.

Nick Harper reports from New York

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TAKE PKG

TAKE VO
Day…..after day……Wall Street's hitting record closes.
But each one is another day the President is making the markets wait.
So far he's made lots of promises.

TAKE SOUNDBITE - Donald Trump, US President
"We think we can cut regulations by 75 percent, maybe more."

TAKE SOUNDBITE - Donald Trump, US President
"We're doing a massive tax plan is coming along really well. It will
be submitted in the not too distant future."

TAKE VO
And that's left the corporate world extremely optimistic, says Douglas
McIntyre, from 24/7 Wall Street.

TAKE SOUNDBITE - Douglas McIntyre, 24/7 Wall Street
"If you're an oil company and you're allowed to drill in some guy's
back yard because there's a lot of oil there and there's no regulation
that you can't put a derrick in the middle of Central Park then oil
companies are going to do better. Once you start to take that stuff
away capitalism wants to pounce on it."

TAKE VO
But Wall's Street optimism has largely been built on Trump's campaign pledges.
With signs the stock market rally is beginning to flag, analysts like
Max Wolff from 55 Capital say it's time for President Trump to turn
promises into policies.

TAKE SOUNDBITE - Max Wolff, 55 Capital
"Every day the ask the markets to wait you up the probability of a
misadventure. This market is over-bought. And you're in an overbought
market where people have binged on risk. A) we need to real tax and
deregulatory detail within about thirty days or less from now,
otherwise people are going to get nervous. And when it does come we're
probably going to get a bit of disappointment because hopes are
astronomically high."

TAKE VO
The protests and court challenges thrown up by the Trump travel ban
unnerved investors.
A renewed immigration policy, to announced next week, could add
unwanted Market volatility.
TAKE VO
The fourth-quarter earnings season has ended. Investors now need
somewhere else to look for inspiration to keep the stock market party
going. The fear is, if the President doesn't keep his economic
promises, White House inaction will cause Wall Street instability.
SOC

ENDS