In the Margins

Can Watergate market behavior show how stocks will react to Trump?

May 19, 2017

By MarketWatch

"Impeachment is not good for stocks. I would have thought that it’s not necessary to point this out, but I’m clearly wrong," writes Mark Hulbert, a senior columnist for MarketWatch. "A cavalier attitude towards impeachment has emerged both among the newsletters I monitor as well as on financial radio and TV—as if we are dealing with nothing more serious than someone getting fired on “The Apprentice.” To be sure, the stock market on Wednesday experienced its worst one-day decline since last September, and concerns about the fate of the Trump administration were widely cited as a cause. But the stock market quickly found its footing on Thursday. And the several dozen market timers I monitor who focus on the broad market (as opposed to more narrow sectors) are slightly more bullish today than they were at the beginning of the week." Read the rest of the column from MarketWatch.