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Perspective: S&P 500 short side off highs

We asked traders what FBI Director Comey's testimony means for stocks and other markets

By Tamarah Webb

June 8, 2017 • Reprints

Dan Gramza

If Comey’s testimony creates doubts about the Trump presidency continuation which would jeopardize infrastructure, health care etc. projects, the expectation would be that the stock market would head lower, the U.S. dollar would get weaker, interest rate futures would increase, gold would increase and crude oil prices would increase.

If the market does react to this, I would expect this reaction to be temporary because it must also be remembered that whatever comes out in the testimony it could be a long time before it actually has a direct impact on the presidential administration. This would mean that if the market does go lower it would be expected to be a short-term break because it would be a market moving lower on the anticipation of what the possibility of future results. This type of movement rarely causes a sustained downward trend.

Dan Gramza is President of Gramza Capital Management Inc. and DMG Advisors, LLC.  He provides daily market updates from around the globe on subjects ranging from the Nasdaq and currencies to crude oil and grains at dangramza.com. 

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About the Author

Tamarah Webb is the associate editor for Modern Trader magazine and Futuresmag.com. She was born in Hawaii and has moved numerous times being privileged to live in places around the world through the military. Tamarah is a recent journalism alumna of Columbia College Chicago where she minored in cultural studies. 

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Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
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