The Effect Of Politcal And Social Factors On Shares And The Forex
Political and social developments, you will find, can have an immediate or eventual effect on stock and currency prices as readily as economic factors.
When the Suez Canal was closed, stocks of companies obtaining appreciable amounts of oil from the Middle East reacted adversely, while domestic oils advanced, anticipating a greater demand on their production.
Washington, in all its ramifications, can alter the course of the market. The President, the Congress, the Supreme Court, and all the attendant Government agencies, bureaus, and committees can take action influencing the prospects for companies or industries.
Projections of the President’s Council of Economic Advisors are important. Congressional action on the corporate tax structure, on the extent and direction of military spending, or on labor legislation can have far-reaching effect on business. So can a Supreme Court ruling or an opinion of the Justice Department.
The Bureau of Internal Revenue’s corporate or personal tax rulings, the Commodity Credit Corporation’s policies on commodity prices and...
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