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Messy travel ban rollout dings stock market surge
 [The Hill] The messy and contentious rollout of the executive order blocking entrance for refugees and travelers from seven majority-Muslim nations has dented the stock market surge enjoyed by President Trump since his election.Nothing at all to do with the Dems blocking Trump nominations and perpetuating gov't gridlock. Nothing at all. Ever since winning the White House in early November, Trump has ridden a wave of stock market success as investors prepared for the business-friendly policies that could come from a Washington controlled entirely by the Republican Party. But the messy rollout of the order, which barring people from Iran, Iraq, Syria, Yemen, Sudan, Somalia and Libya from traveling to the U.S. for at least 90 days and suspending refugee admissions from all countries for four months and from Syria indefinitely is taking its toll. The Dow Jones industrial average has fallen roughly 225 points, or 1.1 percent, in the two days of trading since Trump announced the travel ban on Friday evening. And corporations, long wary of attracting Trump’s ire, began to speak out against the policy as protests popped up at airports across the country. The selloff is a modest chip in the roughly 1,500-point rally the Dow has enjoyed since Trump won the election. But it shows that while the private sector eagerly awaits tax cuts and trimmed regulations, there could be agenda items from this White House that are seen as a setback. I'll take the 'ding' as well as the long view, and buy a little more ARLP (resurgent coal industry). "When you have these mishaps, if that’s what you want to call it, at the White House, that gets people a little worried," said IHS Global Insight Economist Chris Christopher. "But for the most part things are holding up relatively well." Posted by: Besoeker 2017-02-01 |
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