Prediction Markets Now Factor In 65% Chance Of Biden Victory. Here’s What That Means For Stocks And The Economy

Talk of a blue wave has heightened on Wall Street in recent days, as polls and prediction markets increasingly show former Vice President Joe Biden as the likely winner in the November election, and give Democrats a strong chance of taking control of the Senate while retaining their House majority. A blue wave would make passing legislation–including a highly awaited second stimulus bill–much easier, which could bolster economic growth, but not all industries would necessarily benefit.

A blue wave could support stocks exposed to energy efficiency, smart mobility and renewables given Biden's green agenda, noted Mark Haefele, a chief investment officer at UBS, in a Tuesday note to clients, but more importantly, Biden's widening lead, coupled with the increased odds of a Democrat-controlled Senate, makes it more likely that a substantial stimulus bill could eventually come to fruition.

It's not all good news, however: A blue wave could mean a 9% haircut for S&P 500 earnings if Congress passes Biden's corporate tax plan, which calls for increasing the corporate tax rate from 21% to 28%, Goldman Sachs said in a weeekend note.

See what’s happening with Harris candidate VP?...she’s really professional lying to Americans. The way she act and manipulating the law. You can read her face thousands words running against us. Trump

The same markets which predicted Hillary Clinton's victory? Ah, ok.

remember this?

How do I bet against this?

Lol

Goldman Sachs and Moody's both say that the economy will recover faster and do better if Biden is elected.

Ha...yeah sure

I really don’t see it

Damn Hiliary was over 70%

🤔 I see

Mate, remember 2016? That number means nothing,

The Republicans once had a notion: Constitutional virtue promotion. But less regulation, And modest taxation, were replaced by this mad King devotion.

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Here's what happened to the stock market on WednesdayThe major averages rallied after President Donald Trump tweeted support for aid to airlines and other stimulus measures.
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