U.S. stock futures surge as ‘blue wave’ risks fade

U.S. stock futures jumped on Thursday as investors saw the threat of a blue wave recede, betting that a Republican-held Senate would block any moves if a Biden-Harris administration were elected to increase regulations and raise taxes.

Reuters:

stocksFutures tracking the benchmark S&P 500 surged as much as 2%, while Nasdaq 100 futures gained 2.6% a day after Wall Street’s main indexes closed at more than one-week highs.

With President Donald Trump and his Democrat rival Biden still awaiting clarity from the battleground states expected to decide the election, investors were returning to the core setting of the past decade: buying stocks with the flood of extra monetary stimulus coursing through the financial system.

Shares of technology mega-caps including Apple Inc, Amazon.com Inc and Alphabet Corp, this year’s big “stay-at-home” gainers from coronavirus lockdowns, also looked set to add to strong gains from Wednesday… Qualcomm Inc surged 15.7% after the chipmaker forecast fiscal first-quarter revenue above Wall Street estimates as it predicted sales of 5G smart phones would balloon to more than half a billion units next year, powered in part by new Apple Inc iPhone 12 models…

Democrats appeared unlikely to win the Senate, potentially making it difficult for a Democrat administration to rein in Big Tech and other businesses.

MacDailyNews Take: There’s nothing Wall Street likes better than clarity. Failing that, the prospect of gridlock (which also provides clarity) is a close second on Wall Street’s list of favorite things.

61 Comments

          1. Biden can have Nevada. It’s not necessary for President Trump’s re-election.

            1. To prove voter fraud would not just require evidence that the person was physically out of state (e.g. an out of state postmark). Someone who is temporarily out of state (e.g. for school, work, vacation, military service, or whatever) is legally entitled to vote in their permanent residence. Once somebody has established a domicile (actual residence with the intent to remain indefinitely), that remains their legal residence until they establish a different domicile. To set aside their Nevada vote, there would have to be proof that they had intentionally and permanently moved to another state. Good luck with that.

            2. Bwah ha ha ha ha ha ha haaaa ha haaa ha haaa ha haaa! Georgia flipped to Biden overnight and Pennsylvania will flip to Biden sometime today (Friday). It’s just math at this point. Arizona won’t matter. Neither will Nevada.

              Na na na na, na na na na, hey hey, goodbye.

              You know something? You were right. This IS delicious.

            3. As predicted Biden has taken the lead in Pennsylvania and now leads by over 5,000 votes. That lead will continue to grow to probably 50,000 or more and at some point today (Friday) the election will be called for Joe Biden, President-Elect. It. Is. Over. Arizona does not matter now. Nevada does not matter now. Georgia does not matter now. But Biden will win those three for good measure.

              Na na na na, na na na na, hey hey, goodbye.

              I can’t tell you how DELICIOUS this is. There just aren’t words to describe it. The next few weeks are going to be even better as all your heads explode attempting to process the reality of Trump’s epic defeat and Trump himself flails around trying to reverse the outcome of a totally legal and valid election. One Term Trump. That’s his new name. One. Term. Trump.

              I tried to tell you this would happen but you wouldn’t listen. Mmmmmmm, what’s that? Oh, it’s me tasting sweet delicious victory!

        1. President Trump will win Arizona and is on the path to re-election. As Trump himself predicted, the mail-in voting is a mess and causing this disruption and delay.

          U.S. citizen voter ID should be required to vote. Voting should take place in person on Election Day. No early voting. Absentee voting should continue as usual.

          Anyone who disagrees with those statements favors election fraud.

          1. John, these days, the meaning of the “will of the people” means little. Does it mean, those that don’t like one candidate are willing and permitted to compromise law/order for their preference? This question is based on the perception there’s been ballet fraud.

            Conversely, “will of the people” is often embraced by those that believe the winner of the popular vote should preside.

            An aside, I think this country is at a turning point. Sorry to be seemingly sensational, but it seems like a crisis of the understanding and execution of law/order. Both sides have profound differences of perceptions and understanding.

            1. No, the “will of the people” means that everyone gets to vote, and their votes matter.

              That trump is lying about voter fraud (and the people he’s conned sadly believe him) is irrelevant.

              Unless we decide that trump is a king or a dictator and allowed to throw out legal votes representing the will of the people (which is really what you’re arguing), votes are what matter and not the lies of a con man.

          2. “Will of the people.”

            1. Gee, I wonder what they’re trying to hide? It’s so very perplexing. 😉

            2. John could you please provide a link confirming Trump wanting throwing out legal votes? “Legal” isn’t meant to trick, or confuse.

              Please, an example of a concrete effort, NOT Trump’s usual confusing and unfocused bluster.

            3. Ok, then, I’ll bite: what is the difference between “throwing out legal votes” and simply not counting those same votes? Citizens who cast a timely vote are entitled to have their votes counted, not just stored on a shelf someplace.

  1. You’re going to get much, much more from election 2020 than you asked for Democrats.

  2. The market sees a bright future because socialism died in the U.S. on Tuesday:

    GOP House Gains Shock and Bewilder Predictors, Show a Bright Future Ahead

    Who wins Arizona and Pennsylvania is the biggest story right now, as Trump has far outpaced predictions on just how close this race would. But there was another prediction that bit the dust on Tuesday night and continues to look worse.

    That would be that the Republicans were going to lose more seats in the House, setting up an even more dominant majority for Nancy Pelosi to play with. To be frank, that not only didn’t happen, but Republicans are now in position to take over in 2022.

      1. Socialism is spending taxpayers’ money on things not related to the operation of the government. Public schools, public roads and bridges, a standing military would be examples. In terms of spending taxpayer’s money, Mr. Trump couldn’t be more socialist. He’s responsible for the biggest budgets ever, and worse, the biggest budget deficit ever. Pumping all those trillions of taxpayers’ money into the economy (on credit) has gone a long way toward boosting the economy. But it’s at the taxpayers’ expense. So it’s not socialism per se that Mr. Trump and his disciples are against. They’re only against socialism when it benefits the wrong people.

        1. TA: To hear someone define socialism these days is amazing to me. It’s parallel to someone defining BLM. The definitions are anything but neat and tidy and it’s nothing like the conversations heard 10 yrs ago. We’re far beyond the socialism of the Nordic kind…the rosey scenario you depict and I’ll guess, you would advocate.

          Look/listen closely to AOC. Her words are clearly linked to Marxism. Yesterday I heard her discussing the election with Bernie and she stated with joy they were “able to radicalize the millennial voters.” As well, hiding behind the Green New Deal is a reorg of culture and economics that’s comprehensively “state-ist” and collective. David Brooks/NYT wrote that “the Green New Deal represents the greatest centralization of power, in the hands of the Washington elite, in our history.” A designer of the plan said it’s not really about the environment…”we really think of it as a how-do-you-change-the-entire-economy thing,” (Saikat Chakrabarti).

          From an authority on the matter….

          ““socialism is just the lower phase of communism used to facilitate true communist puerility which is its highest phase”. -Lenin

          A present day authority….

          “There is little difference between Socialism and Communism. Both control resources without private enterprise. In both, government has the first and last say on everything.”
          -B Obama

          I agree completely about your assessment of Trump…per finances. It frustrates me greatly. The trajectory didn’t start with him, though…govt has energetically monetized debt for over a decade. Principally because of Covid, the Trump Admin has put it into hyper-gear. A critical difference the difference that very importantly distinguishes the “Us vs Them” part of the socialism conversation is seen in Kamala Harris’ recent promotion of Equity, vs Equality. https://reason.com/2020/11/02/kamala-harris-equality-equity-outcomes/

          The video unmistakably positions the current D mind towards the Marxist realm…far from the Dem Socialist mindset seen in the Nordic model.

          Live in the “Equity Model” for 10 years and get back to me about your experience and preferences. Through history, it ALWAYS sounds good in the beginning, but…

          To each according….

  3. I come here for Mac news. Have been doing so for years. Watching the two of you above me spout political tripe has made visiting this site far less enjoyable than it used to be. So now I say, with frank honesty, that watching you squirm as Biden moves closer to a win fills me with delicious schadenfrude.

    1. You only think Biden is moving closer to a win because that’s what they want you to think.

      That’s why races were called too early for Biden and too late or not at all for Trump. That’s why the meaningless popular vote is so prominently displayed by the msm.

      It’s a psyops campaign to co-opt the weak-minded such as yourself. The purpose is to make it look like Biden is “winning” or has “won,” so that you believe Trump “stole” it when all of the legal votes are counted.

      Stop being a pawn and think for yourself for a change.

      What is it that you cannot handle in the comments from First Then and TruthDetector above?

      Obviously, you can’t handle the truth.

        1. America is a republic, not a democracy.

          The mainstream media spent the last four years telling everyone who would listen that Donald Trump is a vile, racist con man, and yet exit polling shows President Trump made gains in every demographic group except white men.

          When you live in a bubble and see things only through the lens of the worldview inside that bubble, you are creating assumptions that may not match the reality, and the reality doesn’t match the outcome of this election.

        2. Democracy isn’t the Wild West…it includes law and order.

          Rs have long played like good little kids at a B-Day Party. Result; walked on all over in the past and now.

          1. Actually, Hamilton and the other Framers usually called it a “Democratic Republic.” Their point was that we are governed by a constitution that gives ultimate, if indirect, power to the people (demos), rather than to a king (monarchy), the high-born (aristocracy), the wealthy (plutocracy), or the powerful (oligarchy). That’s what Lincoln meant when he called our political system “Government of the people, by the people, (and) for the people.” Again, “government by the people” is the literal English translation of the Greek “democracy.”

            Any government that tries to operate without the consent of the governed is neither a democracy nor a republic, but a tyranny. Government by a minority only works when the majority is willing to concede that the few have the moral, and not just the legal, right to rule. No matter who wins in the Electoral College this year, it will not change the fact that the Republican presidential candidate has only outpolled his opponent in one election since 1988. The majority has only been willing to put up with that because they had confidence that their fellow Americans would treat them fairly. The last four years have destroyed that faith.

      1. It won’t matter, sweetie (well, Hunter will be despondent as his influence peddling spigot dries up), since Biden did not win the election.

        It will all become clearer to you as Arizona – when all of the legal votes are counted – goes for Trump and NC, GA, AK, and PA are finally certified for President Trump.

  4. President Trump was re-elected. When the legal votes are counted, this will be proven to be the case. The Senate, the House, down-ticket races all show a Republican victory.

    President Trump will be inaugurated on January 20, 2021… Donald Trump is the President of the United States and will remain the President of the United States. – Steve Bannon

    A short 7-minute video explains it all:

    Trump has multiple paths to be inaugurated

  5. it’s crazy that so many trump supporters (see above) are literally conned by the lies of a con man, arguing that counting valid votes cast before the close of the election is somehow wrong, when it is the most American thing we do.

    trump, the con man, has gone out of his way to undermine an election when he read the tea leaves, to deprive citizens of their votes, to discount the result, as no loser has ever done before.

    and his supporters (see above) are somehow so baked into his con, they continue to believe his lies despite clear evidence that they’re lies.

    1. All legal votes should be counted. Of course we agree on that.

      Interestingly, right after the election, there were riots once again in Portland last night, but suddenly the Washington State governor takes action to stop it.

      It’s not “Trump supporters” who are being conned, dummy.

      1. Yes, trump is a pathological liar – a con man – motivated solely by self-interest.

        He is conning you and, because you embrace his lies, has been successful.

        He is a con man and you have been conned.

        1. John, more specifically…is the vote “clean?” Have you observed the process with zero suspicions? If no, is there no pause? Or, if suspicions are present, does it matter not because the net result suits your view?

          These are object questions–removed from your subjective dislike of Trump.

          1. Being Borked –

            Fair question and I take is such.

            Objectively, there is no evidence of voter fraud, only trump’s lies and his supporter’s embrace of them.

            Votes need to be in by a certain date, but they don’t need to be counted by that same date. It took 2 months before all the votes were counted and George Washington won a 2nd term.

            Trump calling to “stop the count” (in states that don’t favor him) is astoundingly un-American.

            his false claims – objectively demonstrably false claims – about voter fraud are just more lies from a con man.

            Judge Bork, incidentally, would’ve been appalled.

            1. There is clear evidence of voter fraud in several states with dead people voting.

              Since you watch CNNMSNDC they won’t tell you that but it is on the Internet. @Truth Detector above has an example of a man that died in 1984 voted in this year’s election. One example is all that’s needed to prove your false claim of no voter fraud. It’s probably much larger not reported by the MSM medi.

              Most of your posts are the same, name calling and opinions with no basis in fact…

            2. It is also on the Internet that the earth is flat and that Tom Hanks drinks the blood of kidnapped children to maintain his youthful appearance. The courts are going to require actual evidence of fraud from witnesses with first-hand knowledge, not just online allegations. They aren’t going to disturb determinations by state election officials unless there is proven misconduct on a scale to potentially affect the outcome of an election. If there were massive fraud, why didn’t the fraudsters do a good enough job to win the down-ballot races, too?

  6. The election software system in Michigan that switched 6,000 votes from Trump to Biden is called “Dominion.”

    It is used in 30 states including:

    Nevada
    Arizona
    Minnesota
    Michigan
    Wisconsin
    Georgia
    Pennsylvania

    Every single major swing state. EVERY. SINGLE. ONE.

    1. Ok dude, what is your actual proof from live identifiable human witnesses that 6000 votes in the current MI tally were fraudulently swapped from Trump to Biden? “I heard it on the Internet” is not a responsive answer.

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