Premarket: Apple is green

From the wsj’s “Stock Futures Rise Heading Into Election Day” posted early Tuesday:

U.S. stock futures Tuesday rose in the hours before many Americans head to the polls, capping an extraordinary election campaign that took place amid a pandemic, economic downturn and social unrest.

Futures tied to the S&P 500 climbed 1%, pointing to a second day of gains in U.S. stocks after the opening bell. The benchmark has surged 55% since the Election Day-close on Nov. 8, 2016.

The market is being buoyed partly by bets that former Vice President Joe Biden will win the White House, and Democrats at the same time will take control of Congress. That would make it more likely lawmakers will approve a generous stimulus package to spur economic activity under the new administration.

“The market sees a Biden win as the surest way to help mitigate Covid-19 and to get a positive outcome on stimulus talks,” said Paul Sandhu, head of multiasset quant solutions for the Asia-Pacific region at BNP Paribas Asset Management. “If any party holds the power of both the Senate, House and the presidency, that’s the surest win for a stimulus deal, and that scenario is easier to do with a Democratic leadership because they already have the House.”

My take: Who would have thought four years ago that Mr. Market would be bouyed today by the prospect of a Democratic sweep.

11 Comments

  1. Gregg Thurman said:
    The world’s (Eastern Asia, Australia, Western Asia, Africa, Europe and Americas) indexes are up strongly as of 6:45 EST

    AAPL is up, but not nearly as strong as the rest of the world.

    1
    November 3, 2020
    • Gregg Thurman said:
      Never seen anything like this before. Of 119 Indexes worldwide, only 21 are down, and even those are only down marginally.

      Could the world’s Indexes be reflecting interest in today’s US elections?

      1
      November 3, 2020
  2. Gregg Thurman said:
    Is PED OK? It’s unusual for there to be just blog by this time.

    Oh well, on my way to vote.

    1
    November 3, 2020
  3. Romeo A Esparrago Jr said:
    Our birthday greetings to your wife, Mr. Philip. Enjoy what’s being assembled! 🙂

    1
    November 3, 2020
  4. Bart Yee said:
    AAPL closed at 110.44, up 1.67, a nominal move today.

    Hope everyone has had a chance to vote and cast their ballots safely. Will be an interesting 24 hours from here. Stay safe.

    Meanwhile, current and future Apple users will be casting wallet ballots this quarter and next on the new iPhone 12 lineup, MagSafe accessories and all the other new Apple products introduced so far. We hope that’s a landslide!

    0
    November 3, 2020

Leave a Reply