Wednesday, November 07, 2018

Election results boost market...

So much for all of the pundits last night wondering about how negatively the Republican party's loss of the House would affect the markets.  It seemed odd at the time, and today the Dow and S&P are up 2% and the Nasdaq up 2.5%.  The markets have liked the corporate tax cuts but apart from that they have been rising in spite of Trump.

With the possibility of some restraint on his power, the concerns about the negative impact of tariffs on global trade, misguided immigration policy, and threats about breaking up technology companies because they don't fall in line with Trump's arbitrary personal vendettas have been somewhat allayed for the moment.  The results are a breath of fresh air for most investors.  Trump has no idea.

Amazon is up 7% today(Washington Post and Bezos), the VHT health care index is up 3.5%, Google and Apple up 3% each --- this is a relief from Trump threats rally.  Somehow the preposterously truth challenged President will claim responsibility for the market rise and his loyalists will fall in line.

Results certainly did favor Trump in some races for Governor and the Senate, and since the Trump train chose to visit areas that already were leaning his way that looks good.  That said, Florida is concerning.  Missouri as well. Georgia looks to some like a disappointment but my God, what a change just to get so close.  Votes still to be counted.

And Dave Brat is gone.  How nice for Virginia!


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