I think the market values stability and consistency
I can’t imagine how stressful it must be right now to be a trader on Wall Street. How do you make investment decisions or even hedge your risks when we have a trade war with China, talk of firing the Fed Chairman, and now a government shutdown on Friday.
And then Mnuchin calls bank CEOs to reassure them, which has the opposite effect.
I’m apolitical, so I just look at this from a planning standpoint: if you have zero confidence in building a forecast for the next six to nine months, the market is going to default to a negative outlook.