The findings from former special counsel Robert Mueller’s investigation are in and investors think they can boost stock prices.
Stock futures rose on Sunday night after special counsel Robert Mueller’s long-awaited investigation did not find enough evidence that President Donald Trump ‘s 2016 campaign colluded with Russia, according to Attorney General William Barr.
Dow Jones Industrial Average futures traded 13 points higher, implying a gain of 54 points at Monday’s open. The futures pared their gains after an initial pop at the open of trading. The summary of Mueller’s findings comes amid worries about the global economy which hit stocks on Friday.
In a letter to top lawmakers, Barr wrote:
The White House also said the results are a “total and complete exoneration of the President of the United States.”
Mueller’s investigation had been a lingering concern for investors as it could have hindered Trump’s efforts to further cut taxes and further ease regulations on corporations. The news removes a worry for Wall Street and can help the administration focus on more pressing issues for the market, such as striking a trade deal with China or even working with Democrats on an infrastructure plan.
“This cloud has now dissipated and this should allow markets to breathe a sigh of relief,” said Jeff Kilburg, CEO of KKM Financial. “This could be a real positive for the market if it allows Trump to focus on getting the Chinese trade deal concluded.”
The investigation nagged the Trump administration for nearly two years. It led to the indictment and arrest of several Trump’s operatives, including ex-campaign manager Paul Manafort.
