The first public impeachment hearings are under way as the House attempts to build a case that President Donald Trump acted inappropriately in his dealings with the president of Ukraine, but the stock market has been largely ignoring the dealings that could potentially see the 45th president impeached.“For there to be any impact, there would have to be new information,” Brad McMillan, chief investment officer for Commonwealth Financial Network, told MarketWatch.
Art Hogan, chief strategist at National Securities, told MarketWatch that politics aren’t even the main focus for markets because the trade clash has had the most influence on the global economy. “I think the market is more focused on the U.S.-China trade wars,” he said, noting, too, that historically markets have paid modest levels of attention to impeachment proceedings.
Back in 1973-74, stocks tanked as Watergate unfolded and bottomed as President Richard Nixon resigned. Still, the National Securities strategist said that, while Trump’s business-friendly leanings and his focus on stock gains may have been good for Wall Street, those aren’t likely to go away even if Trump were to be impeached and removed from office.
Analysts at Nomura said they think the probability of Trump’s being forced out of office is “very low,” the strategists wrote in a research note dated Wednesday. “For that to change we would have to see a significant shift in public opinion, particularly among Republicans,” Nomura’s analysts wrote.
I am pretty certain that the worst case scenario is only 12 more years of Trump(s) in oval office. Father, son & daughter. Then America will have had enough. DOW should be about 80,000 then.
Lol ! Real analysis is to predict the rise or fall . The reasons after the fact can’t be trusted . My reasoning :the market is rising because Trump’s impeachment increases chances of trade war resolution. I just made it up and it’s as worthless as this article .
the public know its a witch hunt! ImpeachmentHearings
Because he has nothing to do with its gains
The stock market's price action is voting on the validity of the impeachment proceedings.
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