Impeachment May Be Just What the Stock Market Needs

With the just-launched impeachment inquiry likely to consume President Donald Trump’s attention for as long as it lasts, one issue is less likely to hold his attention – his trade war with China. For markets, putting the trade war on the back burner may be a more significant catalyst than impeachment hearings, allowing stocks to head higher.

Indeed, Trump may find himself playing defense within his own party for the first time. Up until now, Trump has largely been free to pursue his own economic agenda, even if it was at odds with Republican Party orthodoxy and the interests of loyal voters in red districts. Previously, the only weapon Republican members of Congress had against Trump was public disagreement, for which they often paid a price. Former Republican Senators Jeff Flake and Bob Corker retired rather than face voters after criticizing President Trump, and Michigan Representative Justin Amash left the Republican Party and became an independent after rebuking Trump.