The market was great on Wednesday and Thursday. I had some of my best days since the tech boom twenty years ago. Experts think that has a lot to do with the Senate not flipping as was a possibility. The results of the congressional races make it unlikely corporate tax cuts will be undone and chances for increased taxes on businesses and capital gains are not likely to pass.
While the results (or what looks like the results) of the Presidential race are not a surprise, I am a bit surprised that the controversy is not having much of an effect. I suppose the markets believe there is no credibility to the legal challenges and it will not change the eventual outcome or destabilize the country. If the challenges get legs, the markets may react. Markets do not like instability. But they must not expect much to come of this.
While the results (or what looks like the results) of the Presidential race are not a surprise, I am a bit surprised that the controversy is not having much of an effect. I suppose the markets believe there is no credibility to the legal challenges and it will not change the eventual outcome or destabilize the country. If the challenges get legs, the markets may react. Markets do not like instability. But they must not expect much to come of this.
