On the Trey Ware Show this morning, Karl & Trey discussed how politics over the next few months could affect the stock market.
Trey Ware: So there’s no doubt that there’s interesting things happening with our economy and the stock market. And let’s get Karl Eggerss in here, creatingricherlives.com, is joining me on the Stevens Roofing Newsmaker Hotline for another Monday discussion about where we’re headed with our money this week. Where are we headed this week, Karl?
Karl Eggerss: Well, you know, we’ve got a lot of things going on. Obviously the Hong Kong protests are turning violent once again, probably the most violent we’ve seen in months, and that’s weighing on the stock market this morning. And I think over the next few days, maybe a couple of weeks, we might see a little pause in the stock market because we have seen a tremendous rally. We’re sitting near all time highs, but we have President Trump speaking this week, kind of give an update on what’s going on with the trade war so to speak. And we’ve had some positive news out of that. Let’s see if he confirms that.
And then secondly, we have Jerome Powell, the Fed president, basically coming out and saying, you know, are they kind of giving a signal whether they’re going to continue to cut interest rates or not. So those are big things coming up. So, I would suspect we see some type of pause here at the very least for the stock market. But it’s been a tremendous run on the back of better economic news, and again, trade improvement, because we for the longest time thought this wasn’t going to happen. And now we’re starting to see that there are some positive developments coming up.
Trey Ware: And jobless rates for African Americans, Hispanics and Asians are at all time historic lows. The unemployment gaps between both blacks and whites has shrunk a lot. It’s not just that the job market has been good for minorities. It has been historically good.
Karl: Eggerss: It’s tremendous.
Trey Ware: So will the impeachment, the impending impeachment of President Trump, will that have an effect on the stock market? Are they going to freak out over this? And will the Democrats be responsible for destroying the prosperity that we have going on right now, particularly for blacks and Hispanics?
Karl Eggerss: I think because of what you said about the Senate, being that this won’t be able to get through, that obviously I don’t think this will have an impact on the stock market. I think the bigger thing to watch, Trey, it’s not a political statement, if you watch Elizabeth Warren’s numbers, that’s the thing Wall Street is worried about the most-
Trey Ware: Very concerned.
Karl: Eggerss Elizabeth Warren. Not Joe Biden. Watch her numbers versus Trump and versus Biden. If her numbers go up, the stock market, I believe will have more volatility.
Trey Ware: Creatingricherlives.com. Thank you Karl. Appreciate it very much. And he’s right on the money with that. They do not want an Elizabeth Warren presidency.