Why the hell is the stock market up today??!

[Grasswire2]

Considering yesterday's news?

Did Mnuchin pump more taxpayer dollars into it?

Can someone give us a clue?

[NRaleighLiberal]

1. as my decades long financial advisor (a leftie like us) says, there is no real connection between

the stock market and politics. She also likes to say that the market has no soul.

[Tommy_Carcetti]

2. The stock market will forever be like a big, dumb dog chasing whatever passes in its sight.

Except it's a lot less cute.

[mainer]

3. Maybe the market's happy Biden is more likely to win.

And yesterday's news is good news to investors.

[Walleye]

7. Beat me to it

[WSHazel]

11. Absolutely

Wall Street contributions are about 5:1 in favor of Biden. The Street absolutely wants Biden to win. TikTok was the final straw for a lot of the Wall Street folks I know. When the government tries to seize successful private businesses and hand them to cronies of the President, it is no longer capitalism.

[crickets]

28. Good point.

Welcome to DU, WSHazel!

[Midnight Writer]

30. That's fair. Since RW media claim the 2008 Crash was because markets were afraid of Obama.

[Walleye]

4. Because Biden is winning

[CloudWatcher]

15. Yes

They can see a nightmare starting to end. They're not complete idiots.

[calguy]

5. It's up today because there are more buyers than sellers

[mn9driver]

6. The markets want Biden to win.

It’s pretty clear that Trump's ability to control the virus and get the economy going is nonexistent.

[Grasswire2]

8. I hadn't considered that perhaps traders are GLAD about the expose' of Trump.

But the crap we are going to have to go through to get rid of him, and then recover from him surely isn't going to help the economy.

[Yavin4]

9. There's significant progress on a vaccine.

That information has not been made public yet.

[uponit7771]

12. ... said some pharma company for the 2332435 time in the last 2 months. That may be the talking...

... head excuse but US T bills being flattened is the main reason; people running to yield

[Yavin4]

14. "running to yield"

Sound like the title of a 70s rock album.

[uponit7771]

16. 👍, sounds 80 ish to me that's when I saw my first Wall Street type movie.

[lagomorph777]

23. Didn't Meatloaf do that one?

[uponit7771]

10. Yes, the feds can pump unlimited amounts of money into bonds to bounce equities and indicated ...

... they'll do just that.

US T Bills are a safe haven for money but not if the US gov is buying them by hoards

[0rganism]

13. the stock market is not the economy. the stock market is not the news cycle.

i recommend not trying too hard to connect them.

but if you must...
maybe the market is up because Trump is down in the polls and less likely to be re-elected, thus leading to predictions of economic recovery? or maybe there are other financial forces at work that are invisible to the general public? maybe foreign markets are doing well and domestic stocks for globally-operating companies with large foreign holdings are benefitting from that?

almost anything that makes the national news has a complex ripple effect.

[sfstaxprep]

17. Sorry, Not Buying The Market Being Up Because Biden Is Ahead

The Market is one of the only things keeping Drumpf's #'s from collapsing through the floor.

If the Market were closer to 20K than 30K, there would be a Landslide against him.

If the Market were responding to Biden's lead, rather than what is more likely, that it's trying to help save Drumpf's candidacy, it would not go up until it was certain Biden is going to win. We're not there yet.

We'll see what happens after 11/3, when results become known.

[lagomorph777]

18. Because the odds of dumping Trump just went up with the tax news.

[Hoyt]

19. Market feels we'll be better off under Biden. They've known trump was a crook and loser for years.

[WyattKansas]

20. Printing money like Germany following WW I?

One percent Republicans pumping the market back up to keep it inflated?

[2naSalit]

21. Diversionary cover for the orangeanus.

[Wellstone ruled]

22. Appears Corporate America

is planning on a major shut down in January.

And we start the fourth quarter on Thursday. Lots of shorts needed covering as well as Margin Calls .

Sounds like the FX traders as well as the Oil Futures boys are getting their come upens.

[bottomofthehill]

24. Because we all learned how to cheat on our taxes

Going to do my best Trump to pay 750 in taxes and invest the rest in an IRA

[orwell]

25. It recently broke the 50 day MA...

...and is making an attempt to rally back above it.

Also, the other day when the House made another attempt at a stimulus package the market started rebounding from it's recent slide.

Those so-called "rugged individuals" do love those government handouts...just not for, you know, "poor" people...

[pamdb]

26. Stock market

I don’t know and I don’t care. After a week of everything in the red every damn day, I’m just grateful to see some green.

[JustABozoOnThisBus]

27. Because last week it was down.

It goes up. It goes down.

[ProfessorGAC]

29. S&P Is Still Down 4.3% Over 30 Days

But, up 3% YTD.
There's probably a little bargain hunting going on after last week's drop, and some Q3 forecasts looking good for some big companies.

[WSHazel]

31. I think the market is going to fall when Biden wins

The Republicans will go on the attack when that happens, but actually it is a good thing if the market reprices and we stop the insane asset inflation that Mnuchin and Powell have been doing for the last 4 years.

High stock prices are good when they are the result of a strong economy. High stock prices are bad when they are the result of a government inflated asset bubble, which is what we are in right now.