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Crude, US Dollar Continue to Climb. Stocks Await Earnings Optimism
04/12/2018 3:29 pm EST
The Mideast cauldron is definitely what holds equities back from so-called earnings optimism. And if not for expected continued Oil strength, we would have had weaker equity markets Wednesday, writes Gene Inger in IngerLetter.com.
Political events or in this case trepidation involving more than just the president only impact stocks for the shorter-term.
The events include prospects regarding the midterm elections.
It was this Congress that finally did significant tax reform, and this administration that eased regulatory hurdles increasing burdens on many businesses for years (often during either party at the helm).
The stock market this time is being somewhat weighed by fears of much being turned back. S&P 500 (SPX). Whether investors like or dislike reforms, the business community and market analysts generally embraced them.
Of course, it pushed the market up, even as economic activity hasn’t shown that much improvement.
The equity market functions as it should, as the forward-looking mechanism it is, just as it was in the projected immediate response if the election went for Trump.
Clearly, he didn’t even expect victory. To wit his humble table and chairs at the New York Hilton; whereas Hillary was ready with celebrities, limos, fireworks and all the glitter.
Well, he won; the rest sort of is history.
The Mideast cauldron: It's fluid and dangerous; and for the sake of the U.S., if we do respond, the evidence later-on better not contradict the logic for jumping into conflicts.
Perhaps better to let them sweat a bit; not move so swiftly.
A thought: It is definitely what holds equities back from so-called earnings optimism;
And if not for expected continued Oil strength, we would have had weaker equity markets Wednesday.
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