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Democratic Primaries
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Congratulations to our presumptive Democratic nominee, Joe Biden!
Wall Street still wants Donald Trump, but it could live with Joe Biden
https://www.cnn.com/2020/03/04/investing/wall-street-biden/index.html
New York (CNN Business)A day after a surprise interest rate cut failed to calm investors, a new surprise entered the calculus: former Vice President Joe Biden's strong showing in Super Tuesday voting.
Just two weeks ago, the market hit all-time highs as Senator Bernie Sanders became the front-runner. This morning, it is bouncing because Biden has taken the lead.
"Stock investors sent up a roar and piled back in overnight because a moderate Democrat had moved back into contention in the race for the White House," says Chris Rupkey, chief financial economist at MUFG Union Bank.
What's changed? The market view is that the coronavirus has hobbled President Donald Trump. Wall Street still wants Trump to win, but if a Democrat is going to be the next president, Wall Street could live with Biden.
Sanders has taken a much harder line on regulating Wall Street, taxing the rich, rolling back corporate tax cuts and remaking the economy with expensive health care and education plans. Biden -- longtime senator from a state that is home to credit card companies -- is seen as more moderate, a steady hand ready to work across the aisle.
New York (CNN Business)A day after a surprise interest rate cut failed to calm investors, a new surprise entered the calculus: former Vice President Joe Biden's strong showing in Super Tuesday voting.
Just two weeks ago, the market hit all-time highs as Senator Bernie Sanders became the front-runner. This morning, it is bouncing because Biden has taken the lead.
"Stock investors sent up a roar and piled back in overnight because a moderate Democrat had moved back into contention in the race for the White House," says Chris Rupkey, chief financial economist at MUFG Union Bank.
What's changed? The market view is that the coronavirus has hobbled President Donald Trump. Wall Street still wants Trump to win, but if a Democrat is going to be the next president, Wall Street could live with Biden.
Sanders has taken a much harder line on regulating Wall Street, taxing the rich, rolling back corporate tax cuts and remaking the economy with expensive health care and education plans. Biden -- longtime senator from a state that is home to credit card companies -- is seen as more moderate, a steady hand ready to work across the aisle.
Wall St can live with whoever doesn't want to burn it all down
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
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Wall Street still wants Donald Trump, but it could live with Joe Biden (Original Post)
IronLionZion
Mar 2020
OP
Wall Street is not a reflection of out economy. The Fed should stay out of politics or we are in
walkingman
Mar 2020
#2
msongs
(67,436 posts)1. "wall street" will live just fine with any president nt
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
IronLionZion
(45,514 posts)3. Wall Street did well with FDR, Truman, and others
FDR even created the SEC to regulate them
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
walkingman
(7,655 posts)2. Wall Street is not a reflection of out economy. The Fed should stay out of politics or we are in
deep trouble. Trump likes to tout WS as a indicator of his performance but it simply reflects low interest rates and a huge tax break for corporations.
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
customerserviceguy
(25,183 posts)4. Plus
all of the gambling fever that controls the markets.
This is just a sucker rally to let the sharpies unload at prices higher than they would have gotten last week.
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
abqtommy
(14,118 posts)5. I hope we can give Wall Street Elizabeth Warren too. They deserve the best we can offer...
Last edited Wed Mar 4, 2020, 08:12 PM - Edit history (1)
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden
IronLionZion
(45,514 posts)6. That would be so sweet
She can pass some good liberal legislation if Dems have the Senate. President Biden will sign it into law and enforce it.
If I were to vote in a presidential
primary today, I would vote for: Joe Biden
primary today, I would vote for: Joe Biden