Politics Wall Street poised for post-election gains even if Trump loses

13:10  28 october  2020
13:10  28 october  2020 Source:   thehill.com

USA TODAY/Suffolk Poll: Joe Biden leading Donald Trump by 7 points in pivotal Pennsylvania

  USA TODAY/Suffolk Poll: Joe Biden leading Donald Trump by 7 points in pivotal Pennsylvania A majority of likely Pennsylvania voters also said they do not support adding justices to the Supreme Court. "You start creating more justices to get the opinions you want," he said. "It's almost like 'well I gotta win and I'm just gonna create new facts.' " But Laws said that she supports adding justices to the Supreme Court, adding that it shouldn't be called court packing. "I believe it should be called court evening," Laws said. She said that she believes that the "minority shouldn't be ruling the majority," adding that the "the majority of the country is pro choice.

Election could be on pace to see highest participation rate in more than a century. The Trump administration’s failure to control the coronavirus pandemic and its economic fallout The Post says that Trump has made more than 280 visits to his hotels and clubs in his official capacity as president.

Joe Biden said Wednesday night that he believes if President Donald Trump loses the election and refuses to leave the White House, many of the former generals who used to work for him "will escort him from the White House with great dispatch.".

a man standing in front of a building: Wall Street poised for post-election gains even if Trump loses © Getty Images Wall Street poised for post-election gains even if Trump loses

Wall Street traders are banking on steady post-election gains even if President Trump and Republicans lose the White House and control of the Senate in a blue sweep.

Trump has spent much of his presidency touting the record-breaking climb in stock prices on his watch. More recently, he has made unsubstantiated claims that a victory by Democratic presidential nominee Joe Biden on Election Day would lead to a total collapse of U.S. financial markets.

While traders and market watchers acknowledge that Trump's enactment of corporate tax cuts, deregulation and hefty government spending helped fuel some of the market's torrid gains since his inauguration, they expressed confidence the stock market won't fall with the president's political fortunes should he be defeated on Nov. 3.

How battleground states process mail ballots -- and why it may mean delayed results

  How battleground states process mail ballots -- and why it may mean delayed results More Americans are voting by mail this election than usual, due to the pandemic. But processing those ballots takes more time. Here's how it works in battleground states. Because of the pandemic, more voters are opting to cast their ballots by mail this year. While the expanded access and increased use of mail-in voting is good for voters, it does create hardships for already strained election officials in many states, including key battlegrounds.

Dollar loses all its post -US election gains . The decline in the US dollar has wiped out all the gains it has made since Donald Trump was elected . The speculation about his impeachment is rising and the dollar is falling in tandem.

JOE BIDEN has been warned that President Donald Trump could spark 'militias on the streets ' with an outrageous US election plot. Professor Burman highlights how a legal challenge over votes could create a scenario where the Republicans lose the election , but still hand themselves power.

"Most investors believe that regardless of the outcome, whether Trump or Biden wins, that there's enough support mechanisms for markets for them to move higher," said Michael Arone, chief investment strategist at State Street Global Advisors.

Investors largely expect that regardless of who wins next week, a major COVID-19 relief bill will soon be signed into law, something Trump alluded to on Tuesday.

A victory for Biden and a Democratic Senate majority would also increase the odds of massive spending for COVID-19 testing and treatment, green energy and a long-awaited infrastructure package.

"Investors have gotten comfortable with the idea that a Biden administration isn't necessarily bad for the stock market outlook," Arone said.

Donald Trump made many promises in 2016 and early in his term. Which has he kept and what is he still working on?

  Donald Trump made many promises in 2016 and early in his term. Which has he kept and what is he still working on? Trump has kept a number of pledges, including tax cuts and conservative judges. But not on others such as bringing back coal and replacing Obamacare."Unlike so many who came before me, I keep my promises," Trump said during his State of the Union speech this year.

Some big Wall Street pros are lowering their expectations for Trump 's ambitious tax plan to pass That pessimistic assessment is becoming the prevailing Wall Street view— even if buoyant stock Goldman says “ post - election policy expectations have mostly unwound” in sectors once expected to

Wall Street 's fear gauge is jumping. Bloomberg News's Joanna Ossinger: "At this point, most — Amazon accuses Trump of using Pentagon for personal gain : “[ Trump ’s] ‘repeated public and And it said Trump ’s alleged meddling with defense spending for personal gain threatens the integrity of the

Either way, the election outcome is unlikely to change the Federal Reserve's commitment to near-zero interest rates for years to come and to keep pumping cheap money into a fragile economy and strong stock market.

Over the course of his presidency, Trump has redefined the relationship between the president and the stock market. While his predecessors kept the volatile performance of Wall Street at arm's length, Trump has used it as an economic policy report card despite its limited relevance to the 45 percent of Americans who don't have any investments in stocks.

"Stock Market Up Big. Do I get no credit for this? Never even mentioned by the Fake News. A New Record for Stocks and Jobs Growth. Remember, 'it's the Economy Stupid'. VOTE!!!" Trump tweeted on Oct. 12.

The stock market is indeed up significantly since Trump was elected in November 2016. The Dow Jones Industrial Average, S&P 500 and Nasdaq composite have all set record highs during the Trump administration and have recovered far more quickly from the coronavirus pandemic than the broader U.S. economy.

Top GOP official says cyber attackers stole $2.3 million from Republican Party of Wisconsin

  Top GOP official says cyber attackers stole $2.3 million from Republican Party of Wisconsin Chairman Andrew Hitt said the party discovered the attack Oct. 22 and by Friday realized $2.3 million was taken.Party Chairman Andrew Hitt said the loss was attributed to a phishing attack that has been reported to the FBI.

Even if you disagree with this statement, we all know deep in our hearts that most of us are not going to survive much longer mentally with these virus related Trump is also pro fossil fuels, pro oil and gas, pro coal, and pro fracking. He has convinced voters that without him they will lose these industries

Wall Street executives are quoted as believing that Biden has no misgivings about tax increases due to heartening reports, such as those from Goldman Sachs, that suggest spending plans on infrastructure and other items would potentially counterbalance negative economic fallout from the higher taxes.

Trump has argued that Biden's proposed tax hikes for corporations and the wealthy, along with tougher environmental regulations, would reverse that climb. But Wall Street veterans note that stocks had already been soaring before Trump took office and won't stop if there's a change of administration.

"The market implications of an election, even one as momentous as the one we're having next week, is always overstated," said Scott Clemons, chief investment strategist at Brown Brothers Harriman bank.

"There are just far bigger dynamics at work that affect the market other than politics."

Like many market watchers, Clemons said the Fed's commitment to keeping interest rates near zero percent for the foreseeable future should provide support for Wall Street and the economy broadly. The central bank is unlikely to raise rates until well into 2022 at the earliest, and Fed Chairman Jerome Powell has insisted the bank is "not even thinking about thinking about" hiking rates.

"The credit cycle and economic cycle are inextricably linked, and the Federal Reserve is really the first actor and first influencer," said Peter Cecchini, founder and chief strategist at AlphaOmega Advisors.

How to watch election night 2020: the definitive hour-by-hour guide

  How to watch election night 2020: the definitive hour-by-hour guide Election Day is nearly here, and in a matter of hours we’ll find out whether this is the end of the campaign — or just the beginning of a protracted fight over who won. At 7 p.m. (Eastern Standard Time, which applies to all times mentioned here), we’ll start to see returns from Florida, Ohio, North Carolina and Georgia. Trump won all four of these states in 2016 and needs to win them again in 2020. The good news for viewers is that we should see relatively quick results in these key states, all of which are allowed to start processing (i.e., opening envelopes, validating signatures or even counting) their early votes and mail ballots before Election Day.

Mr Trump also said he believed the election result could end up in the US Supreme Court, as he again cast Every losing presidential candidate has conceded. If Mr Trump were to refuse to accept the result Mr Trump was asked by a reporter on Wednesday evening if he would commit to a peaceful

Wall Street 's indexes fell sharply on Monday as soaring coronavirus cases and a deadlock in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election . Travel-related stocks that are vulnerable to COVID-19 related curbs dropped.

"It's mostly about monetary policy conditions."

While the Fed might underpin another four years of stock market gains, traders also see promising fiscal support ahead from either Trump or Biden.

The winner of the election is expected to propose trillions more in debt-fueled spending, especially as a rising third wave of COVID-19 in the U.S. wreaks havoc on the world's largest economy. Both Biden and Trump have called on Congress to produce another massive coronavirus relief bill, and the fading chances of passage before the election will increase the urgency to enact one swiftly after the election.

Trump and Biden are also expected to prioritize growth-boosting and job-creating initiatives to help the battered economy rebuild once the pandemic is under control. While Trump is set to propose another round of market-boosting tax cuts, economists at Goldman Sachs and Moody's Analytics expect Biden's agenda to fuel a faster and stronger recovery if aided by a Democratic-controlled Senate.

If Biden wins but the GOP maintains control of the Senate, the most ambitious of his economic proposals will no longer be viable and the size of a passable stimulus bill would fall sharply. At the same time, a Biden victory and a total wipeout of vulnerable GOP senators could give Democrats sufficient power to cement major tax increases that could shake investors.

Clemons said a Biden presidency and a narrow Democratic majority in the Senate made by moderate victors could strike the perfect balance for markets: ample fiscal stimulus, coronavirus response funding and investments in productivity-boosting energy and infrastructure with scaled-down tax hikes that do little to temper stocks.

"That's a big economic tailwind," he said. "That's a pretty good recipe for equities."

The Daily 202: With GOP at crossroads, Trump team employs fear tactics in bid to keep Republican lawmakers in line .
Biden takes a lead in Pennsylvania and Georgia, but both races remain too close to call. Joe Biden overtook President Trump in the vote count from Pennsylvania around 9 a.m. Eastern as ballots continue to be counted from in and around Philadelphia. The race remains too close to call, but the Keystone State’s 20 electoral votes would put the Democratic nominee over the top. Earlier Friday morning, Biden also took a very narrow lead in Georgia as areas around Atlanta and Savannah reported results. A few thousand overseas, military and provisional ballots will determine whether the former vice president becomes the first Democrat to carry the Peach State since 1992.

usr: 2
This is interesting!