Updated from 7:00 a.m. with new survey details
The loose cannon who is President-elect Donald Trump will take to a stage on Wednesday and lay out some form of vision for the U.S. economy, which so happens to coincide with stock prices getting a touch more volatile amid the uncertainty over the real estate mogul's first few months in office.
Yet, despite the looming handover of power to a clear Twitter addict, it seems that Corporate America is feeling just fine and dandy to kick off the new year. In other words, CEOs are their usual optimistic selves even as a Trump presidency could lead to penalizing cross-border taxes and a ratcheting up of geopolitical risk. Aside from JPMorgan Chase (JPM) CEO Jamie Dimon voicing confidence in the U.S. economy this week (per his usual), General Motors (GM) CEO Mary Barra emphatically planted a flag in the ground.
On Tuesday, General Motors pegged earnings to rise a solid 8% to 9% in 2017, knowing full well that one tweet from Trump about the brand could indeed whack sales (see Trump's impact on Macy's (M) ). Meanwhile, GM said it will buy back an additional $5 billion worth of its own shares, which sent shares of the automaker to near a new 52-week high on Tuesday.
After spending three full days talking to CEOs of private and public companies at this week's ICR Conference, I can tell you that expressions of optimism about the year ahead have been the name of the game. This year's conference has felt eerily as upbeat as last year, in spite of the wildcard that is Trump. And it shows up in some data.