The FarrCast : Wealth Strategies
Business:Investing
It's the election FarrCast! Kenny Polcari calls in from the floor on the New York Stock Exchange. The markets had a big relief rally on Wednesday: split government is what the markets wanted to see. Then on Thursday, the markets breathed out. Kenny says we are in a seasonally strong time of year, but will likely test support before another leg up. Looking forward to 2019, Michael and Kenny say there is competition for money next year, and that's a good thing.
We go to Washington with Dan Mahaffee from the Center for the Study of the Presidency and Congress. Dan pretty much called the election results right on: the suburbs turned towards the Democrats in the House, but the electoral map kept the Senate in GOP hands. Dan points out that divided government has historically produced significant legislation. Will we see the Art of the Deal President next year, or the Campaign Rally President? We continue to live in interesting times.
For our special guest, tonight we have Greg Valliere, Chief Global Strategist for Horizon Investments. His career has been studying the links between DC policy and Wall St market movement. The 2018 midterms are over, and the 2020 campaign begins immediately, and Greg sees little getting done. He takes a little bit of a a contrarian view: gridlock is maybe not as good thing the markets think -- health care, infrastructure, and especially deficits all need attention. The important point for investors is the economic fundamentals are pretty sound, but Greg has some concerns that he shares.
To subscribe to Greg Valliere's Daily Capitol Notes: http://www2.horizoninvestments.com/capitolnotes
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