still hasn’t made clear who will run the White House next year, though Joe Biden is pushing closer toward the needed mark.
The indexes were little changed after the Federal Reserve announced shortly after 2 p.m. Eastern time that it will leave its key interest rate near zero. U.S. bond yields also remained largely unchanged. The central bank, which was coming off a two-day meeting of policymakers, also reaffirmed its readiness to do more for the economy while it remains in the grip of the pandemic.
Broadly, markets are seeing split control of Congress as a case of what Mizuho Bank calls “Goldilocks Gridlock.” That's been the strongest trend through this earnings season, which is close to wrapping up. S&P 500 companies are on pace to report a drop in profits of roughly 8% from year-ago levels. That's much milder than the nearly 21% decline Wall Street was forecasting at the start of last month.
But concerns about any big changes in tax policy during the next administration have mostly abated now that control of Congress looks as if it will remain split, said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.
STONKS ONLY GO UP!
Change is coming! For all those who read numbers “555” look up the meaning on the internet “CHANGE” for the GOOD of America!
For those Trump Supporters out there... SHUT YOUR TRUMP 2020 MOUTH UP AND LOOK AT YOURSELVES! KNOW WHAT IS THE RIGHT THING!
Stock market loves JoeBiden
Because traders know all of joe's shit policies won't make it past the senate. Especially that bullshit green new deal.
Ironically for Trump, these gains are in the prosper of Biden winning the election.
they are gonna crash hard once the winner in announced they do it every 4 years
Wall Street is going to love 4 years of gridlock.
Thanks Biden
Goes to show trump has no impact on trading
cramerbubble
We all want Biden to win apparently.
Ridin with Biden!