Wall Street's Biden 'relief rally'? Stocks rebound on Super Tuesday results

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Wall Street firms are attributing the relief rally on Wednesday to the surprising outcome from Super Tuesday.

Former Vice President Joe Biden secured a lead in the Democratic primary over Vermont Senator Bernie Sanders.

Former Vice President Joe Biden secured a lead in the Democratic primary after racking up big wins in delegate-rich states like Texas and Virginia. Biden's performance put him ahead of Bernie Sanders in delegates, soothing some of Wall Street's fears about the Vermont senator's anti-capitalist policy proposals.

Sanders, a self-proclaimed democratic socialist, has vowed to take on the pharmaceutical industry and his biggest proposal, "Medicare for All," would end private health insurance like that provided by UnitedHealth."These developments in the Democratic primary could set the [Medicaid] and Hospital stocks up for a relief rally as the market likely prices in reduced risk of Bernie winning the Democratic nomination," Stephens analyst Scott Fidel told clients.

While stocks reacted poorly to the Fed's lowering of interest rates by 50 basis points in order to combat the economic damage from the coronavirus, MUFG chief financial economist Chris Rupkey said the easing measure could be at play in the markets on Wednesday.

 

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I guess realDonaldTrump was right when he stated that markets tumbled on the Democrat’s possibility of electing a socialist to run against him. You fools made mockery of Trump’s statement but today are giving Biden’s results credit for the market rebound. Which one is it ?

😂😂😂seriously? You’re giving JoeBiden credit for the rebound? It’s more like the market is breathing a sigh that BernieSanders lost than Biden winning. Honestly, neither is good for the economy, but Bernie is a far bigger threat to the economy.

Does anyone know why the winner of California hasn’t been determined ?

It’s a defeat of Socialism bounce. Has nothing to do with Biden

Lol....lol....lol...lol. yeah that's the reason!

So bias. We haven’t forgotten Ukraine and his involvement ukrainefraud BidenCrimeFamily

Its more of a no bernie rally.

Communists scare markets

What a silly reason to go up

Bernie Sanders is communist

LOL sure.... Biden made stock market go up... Couldn't be the 7 billion pledged to healthcare coronovirus that caused healthcare stocks to go up... Only way Joe increases healthcare stocks is because he is so old they need to spend a billion dollars to keep him alive.

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