- Shares of alternative energy companies, which analysts expect to derive from policies under a Biden administration, rose sharply after the Trump-Biden debate, according to Reuters.
Business coverage of Thursday’s NY Times had the headline “Wall Street Takes a Turn for Biden,” with the online version: “Wait, Wall Street is Pro-Biden Now?” “
- « [I]Investors believe that a victory in the “blue wave”… represents the best chance of securing another large infusion of federal funds in an economy that continues to struggle. ”
But keep an eye on the ball! Goldman Sachs Portfolio Strategy Research told clients on Friday night in the US Weekly Kickstart: “A vaccine is more important than the election which is more important than the 3rd quarter results. “
- “Investors are focusing on the implications of a ‘blue wave’ election… However, the vaccine is more important than the outcome of the election for the stock trajectory. Our assessment of vaccines and treatments remains optimistic. “