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Wed Nov 4, 2020, 01:32 PM

US stocks rise sharply as election results keep trickling in

Source: CNN

The stock market rally is still in full swing at midday. The Dow has now gained more than 700 points, or 2.7%. Phew.

The S&P 500 is up 3.2%, and the Nasdaq is still leading gains with 4.3%.

Experts' views are divided about why the market is shooting higher. Part of it might be that a delayed election outcome was already priced in, as well as continued odds in favor of a Joe Biden win in the betting markets.

Read more: https://www.cnn.com/business/live-news/stock-market-news-110420/index.html



After all that expert talk that the market abhors uncertainty.

9 replies, 1247 views

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Reply US stocks rise sharply as election results keep trickling in (Original post)
Steelrolled Nov 2020 OP
Miguelito Loveless Nov 2020 #1
Calista241 Nov 2020 #2
not fooled Nov 2020 #5
Maraya1969 Nov 2020 #3
GumboYaYa Nov 2020 #4
L.Pharmstrong Nov 2020 #6
Steelrolled Nov 2020 #7
progree Nov 2020 #9
progree Nov 2020 #8

Response to Steelrolled (Original post)

Wed Nov 4, 2020, 02:10 PM

1. Trump's masters know the fix is in

and are celebrating.

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Response to Steelrolled (Original post)

Wed Nov 4, 2020, 02:23 PM

2. it's not uncertainty. It's that they know with Repubs in charge of the senate, there will be no new

taxes on businesses.

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Response to Calista241 (Reply #2)

Wed Nov 4, 2020, 03:45 PM

5. Yep

Or the wealthy.

That's it.

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Response to Steelrolled (Original post)

Wed Nov 4, 2020, 02:45 PM

3. Color me stupid but I think it's because Biden is going to win and our economy

is going to come back because he will implement changes to get Covid under control.

That's what I think.

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Response to Steelrolled (Original post)

Wed Nov 4, 2020, 03:37 PM

4. My advisor says this morning there was uncertainty but this afternoon

all the markets are pricing a Biden win.

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Response to Steelrolled (Original post)

Wed Nov 4, 2020, 03:50 PM

6. My sense is

 

That the Stockmarket is responding to the likelihood that there will be a split government with Biden as President and a Republican Senate. This means that there will be limited opportunities for Biden to pursue a legislative agenda and his authority will be restrained.

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Response to L.Pharmstrong (Reply #6)

Wed Nov 4, 2020, 03:56 PM

7. Yeah, this might be the most significant point.

Large change mainly occurs when there is single party control, and that is looking very unlikely.

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Response to L.Pharmstrong (Reply #6)

Wed Nov 4, 2020, 09:17 PM

9. Yup, Wall Street loves divided and deadlocked government /nt

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Response to Steelrolled (Original post)

Wed Nov 4, 2020, 09:11 PM

8. My theory - Wall Street loves a deadlocked govt: Dem pres, Repub Senate

The Repub Senate will block anything "radical" that Dem pres might do. IOW, the best outcome for keeping things more or less status quo, even keel and all that.

If had a ding-a-ling delusional madman president plus Repub Senate, might actually do some awful things to the economy like asinine trade wars for example, and going a bit too far in destroying the safety net (aka consumers aka people),

sure Wall Street has no love for poor people or sick people, but OTOH at some point too much Trump/Repub wishes becoming policies harms consumption, so better to take that a bit carefully, maybe one step at a time, per Wall Street thinking

(my theory, I'm no greedbanger "insider", I'm from Minnesota, we went for Biden by a 7.2% margin, so we're exempt from ever being wrong about anything. yup, we get no respect etc. etc. Go Vikes! Go Gophers! )

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