Posted on 03/04/2020 4:35:42 AM PST by John W
U.S. stock index futures pointed to a sharply higher open on Wednesday as early results on Super Tuesday showed former Vice President Joe Biden notching key wins and reassuring investors of his place amid the top candidates in the Democratic pool.
Biden’s success early into Super Tuesday voting appeared to buoy U.S. equity futures as the former vice president notched a flurry of victories in key southern states including Virginia, North Carolina, and Arkansas. So far, NBC News projects Biden’s delegate total at 453, ahead of Vermont Sen. Bernie Sanders’ total of 373. To win the nomination, a Democratic candidate must receive support from a majority of pledged delegates — at least 1,991 of the total 3,979 pledged delegates.
“We think the equity market has also been spooked by the decline in expectations that Trump will get reelected in the betting market, as well as Sanders’ early 2020 surge in the betting markets and the polls,” wrote RBC Capital Markets Head of Equity Strategy Lori Calvasina, referring to the market’s turbulence in recent weeks.
Calvasina wrote that if Biden proves he can pose a serious threat to Sanders on Super Tuesday, industries that have come under pressure throughout the Vermont senator’s recent rise (e.g., health care) may see positive moves on Wednesday.
“If Super Tuesday goes well for Biden, the areas with the most negative assessments may experience some relief. We think this is particularly true for Health Care, where performance has had a decent relationship with Biden’s odds in the betting markets for quite some time,” she wrote.
(Excerpt) Read more at cnbc.com ...
Stock market increases under the Trump economy never mattered. Now that Biden has “Joe-Mentum” they are suddenly important.
I think it might be a bit of a not bernie bounce.
biden’s a mess.
bernie’s a communist
Biden is the antidote to the Coronavirus?
I think so too. Wall street does not want bernie...
So yay..TSLA not going to screw me over this morning
I have no problem with the market going up because Bernie did badly. That only makes sense.
Seattle is a ghost town. Consumer spending is a big problem if this continues.
Isn’t the Washington state issue largely at one nursing home? At least the deaths?
Listening to MSNBC last night you’d think he was the cure for every problem in the world.
They always “know” the reason for stock market jumps. But they never ask investors. Pure supposition and guessing.
If the president was behaving as Biden has on an almost daily basis, what would the msm be saying?
Ukraine = Dow decline of 5,000
That’s if you believe the spin
POTUS has shown Americans what is possible in theTrump New Normal. We believe no wand needed.
They think he’s apparently the antidote to everything. I’ve never seen the media this euphoric since 2008 when Obama won. They are beaming.
They think they have a winner now.
obama should be endorsing him any day now.
He has promised to cure cancer.. so .. you know, perhaps?
We have a new Tesla dealership just opened where I live. Kansas City loves them, I see them all over.
That’s what I heard.
CNBC’s attempt to spin this as a pro-Biden bounce is hilarious. What happens when it all turns south again tomorrow?
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