Market advances on belief that polls showing a Clinton win are correct, but doesn’t crawl out too far on that limb in case the polls are about to pull a Brexit
As of 3:50 p.m. New York time–a little more than 3 hours before voting places close in bellwether states New Hampshire and Florida–the Standard & Poor’s 500 stock index was ahead 0.49% and the NASDAQ Composite index was up 0.78%. In other words, U.S. stock traders and investors are looking for a Hillary Clinton victory as the polls now indicate but they’re not willing to rule out the possibility of a Brexit-style surprise. In that June 25 vote, the “stay in the European Union” position had been winning in the polls but the actual vote gave the victory to the “leave the European Union” side.
Still more upside from here for MGM Resorts
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Your next trade on volatility will come after the market returns to post-election complacency (if it does)
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Stocks rally on FBI director Comey’s second letter on Clinton emails
The hedges have been coming off today as the financial markets react to FBI director James Comey’s second letter on the FBI’s perusal of a trove of email’s on a laptop that was shared by Clinton aide Huma Abedin with her estranged husband (and former Dencratic Congressman from New York) Anthony Weiner. It’s not so much that Wall Street loves Hilary Clinton as that the markets fear the unpredictability of Donald Trump
Saturday Night Quarterback says, For the week ahead expect…
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Economy adds 161,000 jobs in October, September total revised upwards to 191,000; Fed on course for December interest rate increase
The U.S. economy added 161,000 jobs in October and the Bureau of Labor Statistics revised the September job total upwards to 191,000. The original September report put the month’s job gains at 156,000. Economists surveyed by Bloomberg were expecting the economy to add 173,000 jobs in October.
Is the market scaring itself lower?
A nervous market (as this one is as the Presidential election nears) can scare itself into a bigger drop by anxiously worrying over signs of a modest decline. I think that’s what we’re seeing now.
Great earnings at Alibaba but real worries too
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