Why the stock market keeps ignoring the primaries
On Tuesday, another round of US primaries might finally determine the fate of the fierce race for the Republican presidential nomination. However, the overall impact won’t probbly have a huge impact on American stock market. That’s because in the near term, political events are being almost compeltely overshadowed by several key central bank events, which are going to impact finanical markets without delay. For instance, market participants are currently focused on the upcoming moves to be carried out by a number of major finanical institutions, including the BOJ, the BOE, to say nothing of the Fed.
On Wednesday’s gathering, the Fed is supposed to leave its interest rates intact. However, investors are going to scrutinize the given statement to figure out any clues regarding the future of the rates.
On Friday, the S&P 500 finished at the year’s highest level and ended up just two points off during Monday’s session, trading at 2,019.64.
Financial analysts noted that since the beginning of the year crude prices have dictated much of the stock market’s direction, while current election rhetoric hasn’t had any impact.