I wish I could spend some time not focused on the election. I tried – I really did. I considered blog posts about the swing of new mergers and acquisitions in the US and abroad as an unexpected outcome of high corporate cash and low organic growth prospects. I looked at the Department of Labor’s successful defense of its first legal challenge against the new fiduciary rule. Still, it doesn’t change the fact that the most newsworthy event going on is the election and how it’s affecting markets. Specifically, the S&P 500 fell 9 days in a row – the longest losing streak in more than 30 years. Analysts have suggested that it’s not a coincidence that the market tanked in tandem with Trump’s odds of winning the presidency going up as a result of the FBI reopening their investigations on Clinton’s email mess. Yesterday, while the market was closed, the FBI announced there was no new information, so the matter was closed again. Almost immediately, the futures markets jumped and – at the time of writing this blog – most major indices are up 2%.
Hopefully, this will be the last time I have to write about the politics affecting the markets for awhile. I know I’ve said that I’m a political junkie, but I’ve been truly saturated with negativity during this cycle and I’ve had enough. The country could use some eye-bleach – GIF files of kittens playing with string or puppies playing with their tails - after this distressingly ugly election. We are all going to need to take a deep breath and try again to work together, no matter who wins. After all the negativity, I don’t think cooperation is likely. I suspect the possibility for positivity has been lost for the next four years. The disappointed half of the country may only take comfort because they’ll have someone new to blame.