It usually takes years for a president to make his mark on the economy, but Mr. Trump did so in just a few weeks. Many companies were bullish on a Trump presidency, and post-election optimism rose markedly. But events after the inauguration dented that optimism. The S & P 500 rose 5% in the first five trading days after the election and has since been consolidating. Preliminary results from a survey of small businesses conducted by Vistage Worldwide show that the post-election surge in confidence in the United States reversed in February. Wall Street just had its weakest January for M & A announcements in a decade. "There's too much confusion," said Ethan Karp, chief executive of the nonprofit Magnet. "People don't know what's going to land. Despite the potential long-term benefits of tariffs in terms of reshoring, what's happening right now is just turbulence." (Wall Street Journal)