With 141 days until the presidential election, Wall Street strategists are starting to weigh in on who would be better for investors: the socially divisive President Donald Trump and his favorable corporate tax policies or a consoler in chief in Joe Biden with his likely higher tax structures.“From a stock market perspective, President Trump would be better,” Stacy, who is director of strategy at Optimal Capital, said on Yahoo Finance’s The First Trade.
At least at the moment, however, thoughts of a heated presidential election are playing backseat to the here and now. That here and now includes a market that has oddly rallied 45% off the March lows despite record job loss due to the COVID-19 pandemic. But the optimism has begun to wear thin with COVID-19 cases starting to spike again in key states as economies open back up.
“A record run, over-the-top excitement from small traders, the Nasdaq at 10,000, historically high multiples, and seasonality all could be a factor in why a pullback here could be perfectly normal,” wrote strategists at LPL Financial. “In fact, if you are bullish, after a 45% rally, one of the best things would be for prices to reset some here over the coming months. We would be a buyer of weakness and use it as an opportunity for longer-term price appreciation.
YahooFinance Who cares about the rich people's stock market we need to worry about this country that's turning and to us thus pool by the current administration
YahooFinance Total bull. As today our Country has a deficit in the trillions. Therefore whoever is the next president will need to deal with that. Most likely Trump will keep enlarging the deficit, consecutively the stock market won't recover, it will be as volatile as today
YahooFinance Bullshit!
YahooFinance Lol no shit
YahooFinance You know what else is good for corporations? People with jobs. A healthy functioning economy lifts all boats. Trumps economy benefits Trump and his cronies, while the rest of us are stuck in the mud.
YahooFinance THE STRATIGEST THAT WORKS FOR DONNIE,ACTUALLY THE MARKET IS GLOBAL..PEOPLE LIKE ME BUY LOW SELL AS IT CLIMBS..I WOULD THINK YOUKNOW THAT.
YahooFinance Of course they put more money on your pockets.
bentlightnvegas YahooFinance Criminals operate better in a volatile market.
YahooFinance Hogwash
YahooFinance Well, wall street has screwed over the average American over and over again. They are constantly looting the middle income. The wealthy get richer under trump, corruption likes corruption
YahooFinance Make America Great Again, Again! Trump2020 MAGA finance money investment mainstreet acorns
YahooFinance LOL.....
YahooFinance Slow Joe can't even put two coherent sentences together.
YahooFinance Well duh
YahooFinance The market likes certainty. People know what to expect from Joe.
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Source: BusinessInsider - 🏆 729. / 51 Read more »