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Added on the 09/04/2019 16:56:34 - Copyright : Wochit
US stock markets opened with optimism Tuesday, as tens of millions of Americans head to the polls to decide who will be the next US president. According to Markets Insider, analysts say the upward bounce was a reaction to the end of the uncertainty surrounding who will get the top job. Fundstrat's Tom Lee said in a note to clients on Tuesday that the result would rally stocks, regardless of who won. If Democratic nominee Joe Biden wins, Lee expects a 10% rally. A surprise win for President Donald Trump could jolt stocks 15% to 17% higher. Asset manager BlackRock says that from ending political gridlock to producing sorely needed stimulus packages, the outcome could trigger an upturn.
Democrats saw a sight for sore eyes on Wednesday when former President Barack Obama hit the campaign trail in Philadelphia. They see the former president as a key factor in encouraging Black men, Latinos, and younger voters to turn out and vote. CNN reports Obama delivered a blistering account of President Donald Trump's first four years in office. He argued that Trump has proved to be 'incapable of taking the job seriously' and has shown no interest in 'helping anybody but himself and his friends.' Obama suggested Trump uses the presidency to boost his own profile, then noted, 'Even then, his TV ratings are down. So you know that upsets him.' Obama's remarks will undoubtedly anger Trump, who has continued to attack his predecessor even after almost four years removed from his last day in office.
On Friday, Joe Biden said he strongly considered Sen. Bernie Sanders of Vermont to be his labor secretary. However, after Democrats regained control of the senate, both men decided against the move. "I did give serious consideration on nominating my friend Bernie Sanders." Biden said. "I'm confident he could have done a fantastic job." Biden chose Boston Mayor Marty Walsh as his pick for labor Secretary.
Democrat Rep. Brendan Boyle of Philadelphia let loose on Republican Sen. Ted Cruz of Texas following the deadly riots on Capitol Hill. Business Insider reports Boyle told Cruz to stop playing politics after the deadly riots on Capitol Hill. Boyle issued a profanity-filled tweet at Cruz after Cruz accused Democrats of attempting to make political hay out of the melee. How many more 20-yr old staffers do you want to be terrorized and hiding in our offices? Rep. Brendan Boyle (D-PA) Cruz and others have been criticized for objecting to a congressional procedure to count the 2020 presidential race's Electoral College votes.
The US equity indexes closed at record highs on Thursday. Analysts look to the Democrats' victories in the Georgia Senate runoffs as a factor in the surge. Experts say the dual victories in the Georgia Senate runoffs pave the way for sweeping fiscal support in early 2021. The S&P 500 was up 1.5% at 3,803.79. The Dow Jones industrial average closed 212 points higher at 31,041.13, up 0.7%. While the Nasdaq composite saw an uptick of 2.6% at 13,067.48.
Georgia voters in the runoff elections will determine control of the US Senate. Many are confident that the votes will be counted accurately, according to CNN. That is a sharp contrast with the 3/4th who say the election in November was conducted fairly. These views are sharply divided by party, which is not much of a surprise. Both Republican candidates for Senate have expressed support for rejecting Electoral College votes. President-elect Joe Biden won by fewer than 12,000 votes in Georgia.
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