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The US political catalyst for stocks is over; the market rally probably isn’t

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    • US President Joe Biden is campaigning for re-election, and is unlikely to want to pass any major bills as the election nears.
    • US President Joe Biden is campaigning for re-election, and is unlikely to want to pass any major bills as the election nears. PHOTO: REUTERS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Ken Fisher

    Published Mon, Jul 31, 2023 · 05:00 AM

    DO YOU believe in miracles? You should. Stocks worldwide, including those in Singapore’s benchmark Straits Times Index (STI), have just reaped the huge spoils of one – and they aren’t done climbing.

    In September, I told you global stocks were approaching a bullish seasonal sweet spot – the nine months framing America’s midterm legislative elections. This has consistently been the most profitable stretch in stock market history. I call it the midterm miracle.

    Indeed, the stock market didn’t disappoint. Sector skew and overblown China-fretting limited STI gains, but even it bounced off October’s low.

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