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Why 'buy the rumor, sell the news' is not working

Interactive Brokers chief strategist Steve Sosnick joins Market Domination Overtime to assess market (^DJI, ^IXIC, ^GSPC) conditions as the Trump administration completes its first month in Washington. "If you look at where the priorities are [of the Trump administration], it's been to cut, cut, cut; you really haven't mentioned a lot of things people were banking their hopes on," Sosnick says. He observes that Trump's inauguration initially sparked market enthusiasm, driving investors toward higher-risk assets. However, Sosnick notes that in the current climate, "those are the stocks, actually, that are getting the rugs pulled out from them." "Buy the rumor, sell the news. Well, in this case ... there hasn't been the news that they're looking for to give the follow-through," he adds. Watch the full video above to hear Sosnick's perspective on monetary policy amid ongoing market uncertainty. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Angel Smith