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Replay Program

Markets

Trump's ironic non-effect on Wall Street

Opening sequence

Opening sequence

Markets

Trump's ironic non-effect on Wall Street

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COMING UP:Trump's ironic non-effect on Wall Street

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Transcript

00:00:00
>>
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00:00:01
An acceptance speech long on economic doom and gloom from Donald Trump.>> Household incomes are down more than $4,000. Our trade deficit is $800 billion yet->> Could have turned Wall Street quickly south Friday, but the GOP's nominee who has spent time on the campaign trail bashing Apple, Ford and Mondelez, just to name a few, didn't say anything to make investors panic or celebrate.
00:00:31
Reuters markets correspondent, Rodrigo Campos says, Wall Street investors are neither buying or selling Trump's rhetoric. They say because the candidate right now is too fickle to bet on.>> There's not a lot of detail in what he says, on one part, and on the other part you can expect him to change his mind very quickly.
00:00:50
>> Whether it's a threat to break up big banks, slash taxes, or tear up trade deals, investors are reluctant to take on the so called Trump Trade. For example, take Mexico. The country's main stock index is up 10% year to date despite Trump's repeated threats to build a bigger wall on the US border, and blow up the North American Free Trade Agreement.
00:01:13
>> This is what a big investor told me. The market knows that the President is not as powerful as we think he is or she is. And there's a lot of things that they say they will do, but then they're faced with Congress. They're faced with the courts.
00:01:28
Hence the checks and balances come in place.>> But the market could face a day of reckoning come November or even before. While the markets have a good predictive track record, they do get it wrong sometimes. Remember last month's Brexit surprise? Some investors say that could happen with the race for the White House and all that's needed is a poll showing Trump is significantly closing the gap with Hilary Clinton to snap the market into action.