Wall Street Firm Predicts Stocks Would Rally If Trump Resigns

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The investment firm said that Wall Street could get used to a "predictable" President Pence if Trump steps down.

Investment firm Raymond James predicted last week that Wall Street would take kindly to a President Mike Pence if President Donald Trump would decide to throw in the towel, according to CNN.

"After the initial shock, we think the market rallies as Pence is a predictable, traditional, conservative choice," the firm wrote in a report published Wednesday.

Stressing that Trump’s resignation is a "low probability event" due to his tenacity, Raymond James noted there is still potential for such a scenario to play out if Trump “wants to avoid going down in history as just the third president to ever get impeached (or, potentially, the first to be removed from office),” CNN reported.

Trump, on the other hand, has insisted that markets would “crash” if he is impeached: "Do you think it was luck that got us to the best Stock Market and Economy in our history. It wasn't," Trump tweeted in September.

Read the full report.

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