Impeachment Probe Does Not Bother President Trump or the Stock Market

Impeachment Probe Does Not Bother President Trump or the Stock Market

$DIA, $SPY, $QQQ, $RUTX, $VXX

S&P 500, DJIA closed at record highs, again!

Public impeachment hearings in Congress about President Trump’s attempts to pressure Ukraine to have scant influence on markets, some analysts said Wednesday.

These hearings will be the height of drama inside the beltway, but our sense is that the market impact will be negligible given that Senate conviction remains highly unlikely

Note: there is little for investors to worry about; the markets ignored Robert Mueller and they will ignore impeachment.

The important things include: Earnings, gross domestic product and interest rates, adding that he expects Fed Chairman Powell to make clear in his testimony that the “central bankers aren’t inclined to cut rates any time soon, surely not in December.”

Solid advice to investors listening for news from the impeachment hearings is to “filter out the noise, which will be deafening,” and this “spoiler alert: The Senate will acquit.”

Wednesday, the major US stock market indexes finished at: DJIA +92.10 at 27783.50, NAS Comp -3.99 at 8482.10, S&P 500 +2.20 at 3094.04

Volume: Trade on the NYSE came in at 799-M/shares exchanged.

  • NAS Comp +27.8% YTD
  • S&P 500 +23.4% YTD
  • DJIA +19.1% YTD
  • Russell 2000 +17.8% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish to Very Bullish in here.

Looking ahead, investors will receive the the Producer Price Index for October and the weekly Initial and Continuing Claims report Thursday.

Stay tuned…

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :  
CONNECT WITH