The market could be on the verge of experiencing an internal rotation out of the winners and into the losers, sparked by a Joe Biden win this November, JPMorgan said in a note on Monday.
JPMorgan pointed to the 2000 election with Al Gore and George Bush as proof that the market won't do well in a contested election scenario between Trump and Biden. The S&P 500 fell 12% between the 2000 November election and shortly after Gore conceded that December. But a turn in the market leaders, like growth and technology stocks, "might be coming" after the November election, JPMorgan said.
A successful COVID-19 vaccine would help hasten the reopening of the economy, which in effect would benefit value stocks that are more tied to the physical economy. But a bigger benefit to value stocks would be a strengthening US dollar and a rise in Treasury yields, according to JPMorgan.
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Why on the hell would someone in their right mind vote for biden 🤦♂️🤦♂️🤦♂️
Lame
Stock exchanges and policies need to be revamped
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