CNBC: Analyst: The ‘Trump trade’ has turned into a ‘Trump fade’




June 8th, 2017 | By: Rachel Cao.

With former FBI Director James Comey’s testimony before the Senate Intelligence Committee and the elections in the U.K. today, those headlines alone could have been enough to stir the market.However, the markets had a relatively steady day and closed a bit higher.Steve Grasso, director of institutional sales at Stuart Frankel, spoke on CNBC’s “Closing Bell” Thursday about the stability of the market amid alarming worldwide headlines.

“[The market] deals with whatever is right in front of it, and it seems to have become calloused to whatever you throw at it,” Grasso said.

“We’ve seen North Korea headlines, impeachment headlines. … Impeachment was the only one I thought had a little bit of a lasting effect,” he said. “But then the market just spit it out once people Wikipedia-ed impeachment and saw how long the process would take and how unlikely it would be with a Republican-run Congress for that to even … take hold.”
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