Should Investors Care About Political Statements?
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U.S. markets are rebounding slightly after Tuesday's sell-off. However, concern about Hurricane Irma's approach seems to have kept those gains muted. John Petrides, Managing Director and Portfolio Manager at Point View Wealth Management, says we have embarked on the 102nd consecutive month without a bear market. Wednesday's rebound, Petrides says, shows there is a pent-up demand for investors to take advantage of sell-offs to buy the stocks at lower prices.The rebound follows Tuesday's sell-off in reaction to President Trump's DACA announcement. Many leaders in technology and business, including Facebook's Mark Zuckerberg and Apple's Tim Cook, expressed opposition to this decision. Petrides says if a CEO makes a political statement, then investors may align.
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