Mart-mania party to poop out: Goldman

Turn out the lights — the party’s over. Goldman Sachs has warned the Trump stock market rally, which has lifted the Dow Jones industrial average 13 percent since Election Day, could soon come to an end.

The Wall Street bank said investors sensing proposed tax cuts and regulation rollbacks would energize a torpid US economy have hit “maximum optimism.”

Any serious tax cuts will likely not happen until 2018, the bank said.

“We are approaching the point of maximum optimism, and the S&P 500 will give back recent gains as investors embrace the reality that tax reform is likely to provide a smaller, later tailwind to corporate earnings than originally expected,” David Kostin, Goldman’s chief US equity strategist, wrote in a report.

A Goldman economist followed the Kostin report by warning clients that congressional Republicans were in such disarray over the threat to appeal ObamaCare that any other priorities — including tax breaks — are likely to get delayed.

“More importantly, the difficulty the Republican majority is having addressing a key political priority suggests that lawmakers might ultimately need to scale back their ambitions in other areas as well, such as tax reform,” economist Alec Phillips wrote in a note.

Separately, Goldman Chief Executive Lloyd Blankfein is going to Washington.

Blankfein is expected to make his first visit to the Trump White House on Thursday evening — for a business council meeting.

It’s expected that Treasury Secretary Steve Mnuchin and Office of Management and Budget Director Gary Cohn, both Goldman alums, will attend. It wasn’t clear, according to people briefed on the list of attendees, whether President Trump would swing by the meeting.