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Wall St rallies on 'fear of missing out' despite looming political risks

Alongside the back-and-forth on taxes, Wall Street will be watching a Dec 8 expiration date for funding needed to keep the US govt open

Reuters  |  New York 

Wall Street's fear of missing out on a relentless rally appears to be trumping rising political risk in a high-stakes December in Washington. The ticking clock on the Republican Party's efforts to cut corporate taxes, alongside the risk that the US government may shut down if a budget deal isn't reached by December 8, is increasing the levels of political risk for investors - but they have yet to really react. "Right now the market is assuming that everything will work out, but you've got a tremendous number of moving parts," said Phil Orlando, chief ...

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First Published: Sat, December 02 2017. 09:57 IST