We all woke up last Monday to news that former Trump campaign manager Paul Manafort and his associate, Rick Gates, were indicted for money laundering, conspiracy, and lying to investigators.
At right around the same time, we got word that former Trump campaign policy advisor George Papadopoulos had been indicted nearly a month.
This, of course, is all part of the wide-ranging Mueller investigation into the 2016 election – an election that could still rock the highest levels of American politics before it’s all said and done.
The markets… barely registered a blip at the news. The Dow slipped less than 1%, and the Nasdaq even went up to another record. They went on to have a great week.
So, naturally, cable was full of questions like, “Are markets totally immune to news these days?”
The answer: well, a little. It depends.
The “event” you’ve really got to watch out for - and prepare for if you want to make some cash - won’t do much headline-grabbing.
It's Not Politics That Will Get You
Investors are finally catching on to the fact that CEOs, not politicians, are driving growth in this country right now. There’s no better reminder of that than this standout earnings season, which has pushed markets to fresh, new highs.
Now, I’m not downplaying these political news items as non-events. They can and may have their impact on things regarding our country and what happens on a global scale in other areas, but when it comes to a direct effect on the financial markets, it is financial market news that matters most.
About the Author
Tom Gentile, options trading specialist for Money Map Press, is widely known as America's No. 1 Pattern Trader thanks to his nearly 30 years of experience spotting lucrative patterns in options trading. Tom has taught over 300,000 traders his option trading secrets in a variety of settings, including seminars and workshops. He's also a bestselling author of eight books and training courses.