This is an interesting post in light of Chaffetz's retirement announcement and the comment by Trump that Hillary's had a tough time.iWriteStuff wrote: ↑October 28th, 2016, 11:53 amChaffetz was already talking about beefing up investigations. This would move to full blown impeachment, I'm sure. Markets are dropping as this reflects a decrease in her chances of getting elected.Serragon wrote:She would most likely be impeached and removed from office. I believe the Vice President would then become president.
Could not have been more unexpected. I was pretty much sure the Gads had won this one already.
And of course the narcissistic Marmalade In Chief makes everything about himself, including the "markets." Others disagree.
https://finance.yahoo.com/news/market-r ... 00305.html
President Donald Trump keeps bragging about the stock market rally, but most on Wall Street say it's not about him.
Trump took to Twitter on Sunday to tout the "great economic news" since the election he feels has been underreported, including major gains from the Dow Jones Industrial Average and Nasdaq. The president has made a habit of citing stocks as a measure of his success, though there is a growing notion that the so-called "Trump rally" isn't really about him.
"I would say that it's less and less Trump," said Jack Ablin, chief investment officer at BMO Private Bank. "If we look at some of the relationships that follow along with policy, they tend to be actually moving in the opposite direction."
He pointed to benchmark 10-year Treasury note yields, which were at about 1.8% on Election Day, climbed as high as 2.6% following Trump's election, and have since fallen to around 2.2%.
"The yield spiked on pro-growth projections, and since that time, we've pretty much given back most of those yield gains," Ablin said. "It would seem that roughly one-third to half of the enthusiasm [surrounding Trump's election] has kind of erased."
"The problem is that there's so many other factors that drive the stock market over a period of months that it's hard to reliably discern a Trump effect from other market movements," said University of Michigan economist Justin Wolfers. "It's just not that unusual for the Dow to rise or fall by a double digit amount over a period of several months. It could be Trump. It could be other stuff."
With the exception of a pair of James Comey bombshells, the markets have been largely impervious to the goings-on in Washington, even as the drama surrounding the Russia investigation heightens.
Analysts and investors say that's because broader economic and financial trends are strong.
"Set aside politics and just look at the market -- we've got first-quarter earnings pretty much in the book, and earnings grew by about 15% year-over-year," said Tim Holland, global investment strategist at Brinker Capital. "That speaks to a good economic environment at home and what seems to be better growth around the world."
"In spite of all the political dislocation, when you down to what's happening at the company level, profits are growing," said Bob Phillips, managing principal at Spectrum Management Group. "There's been a concern about valuations, but earnings appear to be coming through, or they're expected to come through in sufficient amounts."
Trump's agenda has stalled, and the tax reform and deregulation that spurred investor optimism after his November victory seem increasingly difficult to achieve.
"Political setbacks, a lack of consensus on policy priorities, the distraction of fiscal deadlines, and the prolonged consideration of health legislation have delayed consideration of tax reform and diminished expectations of major policy changes more generally," said Goldman Sachs analyst Alec Phillips in a recent note.