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Market Commentary

Major Palpitations

By Charles Payne, CEO & Principal Analyst
11/14/2017 12:46 PM
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The last five days have seen a few cardiac moments, and while the major indices have managed to climb off the canvass, the rally is more susceptible to the downside than it’s been in a long time.  The punch to the gut continues to come from Washington, D.C. and unshakable angst over the tax bill. 

The good news is this kind of shakeup is long overdue, but if the GOP blows it, the rally could take a bigger hit than I was considering just a couple weeks ago.  It’s not solely the idea of less economic impetus, but it would be the realization of ineptitude that means failure on all critical parts of the Trump agenda that could move America forward.

For the record, I think a bill gets done.  But, I see it coming down to the wire, and the final product will not be what was promised.  But, we’ll cheer it the way we cheer news as a sign of more accomplishments down the road.

Dow Jones Industrial Average

 


Comments
Charles, I have great respect for you but, there is no way they pass tax reform now.... The markets are due, and that correction will happen... Not the Presidents fault! It's all the whiny rinos that queer the deal....Sorry brother, on this one I'll sit the bench....

gregg on 11/14/2017 4:42:34 PM
Have to agree with Gregg, I'm not convinced the Senate can get out of it's own way, and now that they are including the health care mandate. Doubtful

David on 11/15/2017 6:42:41 AM
 

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