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U.S. equities surged to all-time highs Wednesday, the major indexes posting their best day of the year, on the back of President Donald Trump's speech to Congress.
"A lot of people say this is euphoria. bit doesn't feel like it," said Eddie Perkin, chief equity investment officer at Eaton Vance. "It feels like people are reluctantly buying stocks."
"That's why I'm a little wary," he said.
Trump's speech, which was delivered Tuesday night, was widely praised for its positive tone but lacked specifics about tax reform and deregulation, two key components of the market's postelection rally.