Historically, when a president speaks at the State of the Union, there are announcements that can trigger moves in the markets.
So did Joe Biden make any announcements last night that would make an impact on Wall Street? Not really, according to local financial advisor Howie Pentony.
“Typically, everything is short-term. Everything comes out, the market reacts and then it goes onto normal business. I’m not sure there’s a whole lot for the market to reflect on here,” Pentony said.
There were a few specific areas that might see gains though.
“The only thing that I see going on after that speech is that oil and gold prices are heading up. So is silver,” Pentony said. “It’ll be interesting to see what happens.”
Pentony also said the war in Ukraine will continue to have more influence on the market.
