U.S. equities rose on Friday after multiple reports said Steve Bannon, one of President Donald Trump's top advisors, was leaving the administration.


Tension between Bannon and other top advisors to Trump, including Chief Economic Advisor Gary Cohn and National Security Advisor H.R. McMaster, had been festering inside the White House. On Wednesday, Reuters reported that discord between Bannon and McMaster is destabilizing Trump's team.


Bannon has been the advisor pushing the hardest for a more nationalistic approach to U.S. economic policy. However, his influence has reportedly waned in the Trump administration.


If Bannon leaves "I think that's positive for the market because it means that Gary Cohn is staying and if Cohn and McMaster are the ones left advising the president, that's ultimately market friendly," said Dave Lutz, head of ETF trading at JonesTrading.

More deck chairs-rearranging (along with Bannon's utter crap were some ballpark-reasonable reform ideas).

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