The president endorsed the public release of Special Counsel Robert Mueller’s report on possible ties between the Trump campaign and Russian election...
Investors have largely ignored the political drama that has accompanied the first two years of the Trump administration, but equity strategists and analysts say markets may soon have to confront its ramifications, as Special Counsel Robert Mueller submitted his findings on Friday into possible ties between the Trump campaign and Russia’s meddling in the 2016 election.
More downside than upside A report that’s damning toward President Trump would create a great deal of market uncertainty, put the administration’s tax and regulatory agenda at risk, and potentially encourage the president to take actions unfriendly to the market in an attempt to distract the public from the report’s contents.
Outside of its combative stance on trade issues, the Trump administration’s policies, including the recent corporate tax cut and efforts to pare back federal regulations, have largely been seen as supportive of equity markets. The S&P 500 index SPX, -1.90% has risen roughly 33% since Election Day in 2016.John Normand, head of cross-asset fundamental strategy at J.P.
‘Watching the Senate’ Brad McMillan, chief investment officer at Commonwealth Financial Network, agreed that an incriminating report could be a source of short-term volatility, but he argued that the immediate impact of the report wouldn’t put the administration’s business-friendly policies at risk. 2020 vision The lasting effect of the report, therefore, may not materialize until closer to the 2020 elections, when the Democratic Party is seen as having a good chance of taking control of the Senate and retaining its House majority, as well as potentially winning the White House, especially if revelations from the Mueller report reduce the chances of the president getting re-elected, he said.
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