Dividend logo

Well, that was fun while it lasted. After nearly four months of straight gains on the major indexes, traders decided to finally take a breather this week. Political uncertainty came to a head as promised policies by the Trump administration ran into the quagmire that is Washington. A lot of these promises have been baked into the markets since Trump’s election, and with several key talking points – such as the repeal of Obamacare – meeting opposition, traders overwhelmingly sold stocks on the week. Turning the Trump Bump into the ‘Trump Slump.’

Not helping was the sheer lack of data. While the previous week’s data deluge painted a bullish picture, this week’s lack of metrics left traders solely focusing on politics. And what was released was less than bullish. Adding these data points to the bearish political situation helped to drive equities downward.

Also assisting in the sell-off was the lack of positive earnings reports. The so-called earnings season is nearly over and only a handful of bellwethers reported this week. Nothing they announced was good. Several high-profile profit and revenue misses were recorded.

In the end, all of these factors helped to turn the mood on Wall Street decidedly bearish.

Check out last week’s Market Wrap here.

To read the Full Story, Go Premium or Log In

Popular Articles

News

Royal Bank of Canada, Lowe's Companies and CVS Health Go Ex-dividend This Week

There are many securities going ex-dividend this week starting Monday, July 22. For income...

Premium Market%20wrap%20july%2019
News

The Market Wrap for July 19: Earnings Season Starts Off Poor

After last week’s bout of volatility and Fed-induced record highs, investors this week were a bit...

Premium Job%20market
News

Can Labor Really Keep the Economy Cooking?

The economy and the stock market aren’t one and the same. One doesn’t represent the other....