Stocks tumbled yesterday as President Donald J. Trump’s troubles went from being simply noise to an actual problem for the market. And the market still appears worried, as stocks have barely bounced back today.
The S&P 500 has advanced 0.1% to 2,359.59, while the Dow Jones Industrial Average has ticked up 12.24 points, or 0.1%, to 20,619.17. The Nasdaq Composite has risen 0.4% to 6,033.41.
With that in mind, four political operatives took the stage to discuss his presidency: Donna Brazile Political Strategist & Former Chair of the Democratic National Committee; David Bossie Deputy Campaign Manager to the Donald Trump Presidential Campaign & Political Activist; Josh Earnest, White House Press Secretary for President Obama; and Karl Rove Former Deputy Chief of Staff & Senior Advisor to President George W. Bush.
Despite the wide range of political views, they all appeared to agree that the appointment of Robert Mueller to investigate Russian involvement in the US election is a good thing, if for different reasons. All of them agreed that it was likely to calm the situation, as Mueller’s investigation will likely happen slowly and behind the scenes, resulting in fewer headlines.
Rove and Bossie both contend that the investigation will show that there is no there there, while Earnest said that the “turmoil is not good,” and that everyone is “rooting for Bob Mueller’s success.”
For the markets, less turmoil would definitely be a good thing.