Jim Cramer knew that Obamacare replacement failing would not derail the rally for three critical reasons.
First, the failed health care reform clears the way to more popular initiatives on the agenda as tax cuts and repatriation of money back to the US.
Second, improving revenue reports gave Cramer confidence in the stability of the market, no matter what confusion comes from Washington. According to him, earnings play a far more important role when it comes to the direction of the stock market.
Third, companies are finally starting to feel the relief of deregulation as Trump sets out to repeal Obama-era rules, an action that does not require congressional approval and that Cramer believes is hugely important to "the psyche of business."
Source: Yahoo Finance
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