5/13/2016
By Charles Payne, CEO & Principal Analyst

As we near November, I’ll try to handicap the race for the White House and the potential implication for the economy and the stock market more often.

The Big Powwow

Yesterday was all about the big powwow between House Speak Paul Ryan and presumptive GOP nominee Donald Trump.  One newspaper is calling the outcome a ‘modus vivendi’ between the two, although it if feels that it’s the first step toward ultimate bonding and full-throated endorsement.   But the GOP nominee may have to make some concessions to make it happen.

From what I gather, Ryan is less eager to win concessions on policy as he is to have Donald Trump carve out room for core conservative principles on the GOP Platform.  That said, altering policy underscores a commitment to principles.  I think we will see modification on the Muslim ban and clarity on taxes.  I get that Ryan is playing with a weak hand, but when it comes to getting laws through the system, his hand is stronger than many people realize.

Coming out of the meeting, Trump and Ryan say they are ‘totally committed to working together.’

Overnight, Donald Trump took aim at Amazon (AMZN), and the company’s “unfair advantage,” which is worrisome to me as those are the kind of statements made before legislation is taken to stop or breakup that unfair advantage.

On the democrat side, there are so many scathing articles out in the last 24-hours on Hillary Clinton and the Clinton Foundation she might ask the media to stay focused on Benghazi. Interestingly, more Wall Street folks are telling me they’re leaning toward Hillary.   A cynic would say they should since they’ve invested so much money into her already. 

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Charles Payne
Wall Street Strategies

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