US earnings reports of S&P 500 companies show that Donald Trump and his policies are looming large. Based on calculations by Fact set,

• Out of 317 companies that reported earnings so far for the fourth quarter, 165 of them or 52 percent have used either Trump or administration in their earnings report.
• Among these reports from these 165 companies, tax policy was either mentioned or discussed the most.
• Tax policy was discussed by 85 companies. Regulations were discussed by 63 of them. Trade policy was discussed by 58 companies. Other policies include Health Care (25 companies), Stimulus/infrastructure (23 companies), Defense (11 companies), Energy (10 companies), and immigration (6 companies)

The major change in approach from the government under Trump administration is being considered as the biggest risk or opportunity for 2017 and beyond. President Trump has recently said that within two to three weeks, he is going to announce phenomenal tax changes, which has kept the S&P 500 buoyant.