Stock Market, Tony Dwyer, Republican Congress discussed on CNBC's 'Fast Money' - Fast Money 10/18/17

Automatic TRANSCRIPT

There is no question that the rally in the stock market has based in to it reasonably high expectations of us getting tax cuts and tax reform done it also has based in to it uh optimism on regulatory relief which they begun to see and there's expectations so i think to the extent we get the tax deal done the stock market will go up higher but there's no question in my mind if we don't get it done you're going to see a reversal of a significant amount to these gains so what is really driving this rally tax hopes or earnings maybe a little bit about tony dwyer has canaccord union these chief market strategist tony welcome back it's great to be here my first i gotta say all right gave me a really good feeling to hear p talking about a global synchronized recovery bk is is the treasury secretary correct reform by the end of the year which is his own target i think the administration and the republican congress is responsible for some of it the global synchronized recovery that we're goofing around about it's been in place we've been talking about it on the show for the last year and a half once you came out of that february two thousand sixteen need a collapse of global economic of the global economy and era and it was really the ecb buying corporate debt kickstarted corporates in europe and you start to get this groundswell of activity was already in place but not yet showing up when the election happened.

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