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There was a lot of headlines flowing from DC Thursday on the healthcare bill. Yet with some key Republican Senators still not onboard, then passage seems unlikely at this time.
Typically, greater uncertainty = stock sell off
Now uncertainty is the status quo = investors tuning out DC and just focusing on the economic facts in hand. And those facts are pretty darn good as Q2 GDP is still expected to come in around 3%.
Like I said a couple days ago, expect new highs at 2500 before the next earnings season gets underway.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
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