Investors on Wall Street can add another layer of uncertainty to a market already unnerved by last month's sell-off, stalled fiscal stimulus and President Donald Trump's COVID-19 diagnosis, which weighed on stocks on Friday.
That policy - which would likely be easier to enact if Democrats also win the Senate and retain control of the House - may push some investors to lock in gains ahead of December if Biden emerges the winner in the Nov. 3 vote, fund managers said. Tesla Inc , for instance, is up 436per cent for the year through Friday, while Zoom Video Communications Inc is up 610per cent and Amazon.com Inc is up 74per cent. The S&P 500 index as a whole is up 3.8per cent over the same time.
Chris Cordaro, chief investment officer of RegentAtlantic, believes a broad Democratic victory will likely lead to more stock market volatility as soon as the results of the election are known as investors start selling winners. Investors in the coming week will be keeping an eye on minutes from the Federal Reserve's most recent monetary policy meeting, due out Wednesday, for insight on how the central bank views the nascent recovery in the United States.
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