Trump's scoreboard is S&P 500, and it's Wall Street's best hope

Contributing sentiments towards policy:

65% : "Trump considers the stock market performance as an important part of his scorecard," said Eric Sterner, chief investment officer at Apollon Wealth Management.
54% : This time, Trump has proposed a 10% to 20% tariff on imports from all countries.
49% : Or, as Barclays strategists put it in a note to clients on Thursday: "We think the president-elect should be taken seriously, but not literally."The possibility of tariffs is what investors are most closely watching, since Trump regularly used them in his first term as negotiating tools, threatening to put them on and then just as quickly reversing course when markets sold off in response.
46% : Of course, historical analogies may not matter because conditions when Trump first took office in 2017 were so different from what they are now.
38% : "Trump 2.0 will curb immigration and be forced to curb fiscal policy, the twin pillars of American outperformance relative to the rest of the world.
35% : Wall Street doesn't believe Trump will tolerate a declining stock market, even if it's caused by one of his own proposals.
30% : And the final risk, counter-intuitively, is if Trump is too sensitive to what markets are doing.
30% : "If Trump is too reactive to daily market moves as he was during some passages of his first term, he along with many others, may find themselves getting whipsawed."
16% : And Trump may not be getting much assistance from the Fed after Powell said on Thursday that there was no need to hurry with more rate cuts after reductions at the September and October meetings.

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