Dear Rundown Reader,
That’s the buzzword surrounding President Trump today, as the fallout from Paul Manafort’s and Michael Cohen’s guilty verdicts sweep the nation.
These verdicts do matter. Politically.
As for the markets, they should have no bearing.
Yet, as soon as the verdicts were rendered futures dipped into the red.
Don’t worry, the bull will keep marching and people will still make tons of cash in the market this year.
That’s why today’s Rundown cuts through the noise to show you one sector that’s rising from the grave and paying out big despite the drama.
Your Rundown for Wednesday, August 22, 2018…
How To Cut Through The Noise For Big Money
Guilty on eight counts of fraud.
That’s the verdict for Trump’s former campaign chair Paul Manafort.
Michael Cohen, Trump’s personal lawyer was also found guilty on eight charges, including campaign-finance violations, reports The Wall Street Journal.
Meanwhile in West Virginia Tuesday night, Trump rallied his base and barely batted an eye at the implications.
But the market is paying attention.
The problem is, Wall Street should ignore this noise. It has nothing to do with the market.
And while the talking heads on TV will try to suck you into the drama with doom and gloom prophecies, the bull rages on.
Including in one left-for-dead sector that’s springing back in force.
Last year’s retail apocalypse was averted. The proof’s in the chart.
Take a look at the SPDR S&P Retail ETF on the year, compared to the S&P 500 and Dow below:
The point is you can let yourself get swept up in the noise that has no bearing on how the market should act.
Or, you can you can focus on what matters like price action and fundamentals to make the most out of your plays.
Retail’s resurgence amidst the trade war drama and other geopolitical noise is a perfect example of how you could do it.
Now, turning to the markets this morning…
Market Rundown for Wed., August 22
S&P 500 futures are down 3.00 at 2,858. We’re hours away from breaking the record for longest bull run ever. Get the champagne ready.
Oil’s up $1.18 to $67.02.
Gold’s up $6.10 to $1,206. Still too soon to call it a rally, but we’re tracking this run closely. More on this to come.
Bitcoin goes for $6,667 this morning, according to CoinDesk. Wake us up when we’re back to $8,500.
We’ll talk again on Thursday.
For the Rundown,