Posted November 04, 2020
By Byron King
Politics Go Viral
Responding to Mondays missive from a reader living in France, our first contributor says: The Europeans are not going to put up with more shutdowns any more than Americans will.
Another shutdown will destroy our economy and destroy many barely-surviving small businesses. We need to protect the vulnerable and get everyone else back to work while the work is still available.
The political climate is so upside down that I believe the radical left wants the whole country to fail. They hate the president more than they love this country.
Apropos of president, were still waiting on election results this morning. Our best guess? Should Trump lose, hell cry foul. Same goes for Biden. This might get contentious
Did someone say contentious? Another reader says: Assuming the government is reporting accurate numbers for the virus, only a moron would not follow the advice of the experts.
Assuming might be a bridge too far
One of the really alarming knock-on effects of the pandemic -- and the election -- has been the politicization of public health policy.
Do you agree, reader? And how do we fix it before the next pandemic?
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Your Rundown for Wednesday, Nov. 4, 2020
Market Kisses Off the Election
The U.S. election is behind us. And though theres no clear winner yet, many Americans are taking a deep breath and getting on with it.
Same goes for the market
So if youre concerned about your portfolio, take it easy. Elections have rarely had a long-lasting impact on stock prices. If anything today, were seeing a positive impact.
Heres the key: Anxiety about the 2020 US presidential election that's left some investors on the sidelines is finally set to end, says Business Insider, helping to push markets higher through the end of the year.
Accordingly, Tom Lee of Fundstrat Global Advisors notes: "Investors have been on a buyers strike due to the uncertainty of election outcomes.
Meaning tons of cash have been riding the bench.
Investors have plenty of cash to put to work in the markets nearly $4.5 trillion, Business Inside says, citing data from ICI.
This all sets the stock market up for a postelection rally, regardless of the outcome.
Something were already seeing this morning
Market Rundown for Wednesday, Nov. 4, 2020
S&P 500 futures are up 1.4% to 3,416.
Oils up 1.6% to $38.27 for a barrel of West Texas Intermediate.
Golds in the red this morning, but back up above $1,900 per ounce.
Bitcoins lost 1.7% to $13,770.29.
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Take care. Well talk more Friday.
For the Rundown,