Market Insider

Trump meets the press as market weighs uncertainty factor

Wall Street awaits Trump news conference

Donald Trump will field questions about Russia, including unverified reports now denied by Moscow that it had compromising information about the president elect.

The reports surfaced late Tuesday, and were denied by Trump as "fake news." In tweets Wednesday morning, Trump said he has nothing to do with Russia including no deals or loans. The Russian government also issued a denial, dismissing the claims as a "total hoax."

But markets have another agenda for the 11 a.m. press briefing. Besides reassurance about the topics that have been making headlines, traders are looking for details about Trump's corporate tax plans and fiscal spending.

"The big ones are Russia and conflicts of interest," said Greg Valliere, chief global strategist at Horizon Investments, of what is likely to be discussed. "Number one is going to be conflicts of interest. There's so many juicy issues with his business ties and his kids. There will be lots of questions on conflicts and then Russia. Three would be Obamacare."

But the markets are hoping for some concrete views from Trump on policy and a checklist of his priorities. Some of the enthusiasm for the "Trump trade" has faded and bond yields have retreated from their highs, as investors await more information on the promised policies that had driven the Dow up about 9 percent since Election Day.