Only three U.S. presidents have faced impeachment proceedings. It makes it hard for me to use impeachment threats or proceedings as a tool to determine where U.S. stocks will go.
The chairman appeared to be sending a message to the White House that its trade war is pushing the U.S. toward a recession, and that the Fed may not have the tools to bail us out if that happens.
Still, for many investors, significant concerns remain. Some fear that the advance has been nothing more than a rally in a bear market and the Christmas Eve lows will be revisited. Others fear that stock prices have gone “too far, too fast” and now the market is vulnerable to familiar headwinds such as trade talks, slowing earnings growth rates, a government shutdown, or any other of the recent favorites.