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Global Tech And Health Stock Markets Climbing As Biden Gets Closer To Presidency

As Joe Biden gets closer to becoming the next President of the United States, shares in major technology and health stocks are climbing. Shares in Asia Pacific, for example, have already climbed to their highest point in three years within the past 24 hours. 

Biden currently only needs six electoral college votes to secure the presidency. Investors on the other side of the world have been closely monitoring and betting on Biden getting to 270 votes. Asia Pacific shares climbed by 1.3% which is the highest it has increased since February 2018. Japan technology firm Nikkei rose by 1.1%, the highest it’s been in nearly a year. 

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China’s blue chips stocks gained .8% due to the possibility of Biden taking Trump’s place in the White House and therefore reversing his trade war tariffs as well. Edward Moya is a spokesperson for OANDA who recently spoke with the press about how even the possibility of a Biden presidency is helping boost the global stock market. 

“The contest is not over, and President Trump will not go down without a fight, but financial markets are confident to price in a Biden presidency along with a Republican controlled Senate.”

A Biden win with a Republican controlled Senate would mean there’s less risk for regulation and corporate/personal taxes being raised. The stock market’s reaction to the past 48 hours also is showing “US growth stocks outperforming on prospects of less economic aid,” according to market analysts. 

“Technology and healthcare stocks duly led the charge higher overnight while those leveraged to consumer demand lagged. With tech stocks accounting for such a large share of the indices, the S&P 500 gained 2.20% and the Nasdaq 3.85%.”

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Bond markets in the US are running under the assumption that a divided government would reduce the possibility of debt-funded spending on things like stimulus and infrastructure support for the country. If this were to happen there would also be a reduced bond supply as well. 

10-year US Treasury has dropped down .74% so far after remaining at a .93% peak for five months. Additionally, “the Dow jumped 1.3%, or some 360 points, while the S&P opened up 1.6%. The Nasdaq rallied 1.9%. The S&P 500 and the Nasdaq Composite are on track for their best week since April. For the Dow, it’s shaping up to be the best week since June,” according to media reports

Shares in major tech companies have also continuously risen within the past two days. For example Facebook and Google parent company Alphabet traded more than 2% higher while Amazon, Apple, and Microsoft gained more than 3% each. Because these tech companies work with international governments, mainly China, the prospect of a divided US government has investors on all sides assuming taxes won’t increase. This would also mean the current trade war with China would stabilize. 

As the results continue to be counted throughout the country, and Biden gets closer and closer to a presidency, stocks will likely continue to increase in the tech and healthcare sectors, as those are two areas that will likely see a massive spike in investments should Biden win and enact his policies for Covid-19 and the current economy in the US.

U.S. Stocks Climbing Despite Uncertainty Surrounding Presidential Election

Tech-led stocks in the US began climbing when the market opened up on Wednesday morning, despite there being a lack of clarity in terms of who will win the 2020 presidential election. 

According to reports, The Dow Jones Industrial Average increased by 500 points, or 1.7%. The S&P 500 traded 2.3% higher while the tech-heavy Nasdaq Composite increased by 3.2%. Mike Lewis is the managing director of US equity cash trading at Barclays, and spoke with the press this morning about these surges. 

“I think that the outlook going forward for markets is this is going to be more about policy and the Fed than it’s going to be about politics, which is a good thing for markets.”

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Key swing states like Wisconsin and Pennsylvania could take a while to fully determine how the votes will lean. Both candidates and their camps are confident in their paths to victory this week.

Amazon, Microsoft and Apple all saw spikes of at least 3% in their stocks while Facebook increased by 7%, and Google-parent company Alphabet jumped more than 5%. Traders on Wall Street attribute these spikes to a multitude of factors. The possibility that Republicans will maintain control of the Senate is a positive for the groups, as a Democrat congress could have weighed down on the high-growth sector, according to Barry Bannister, Stifel Head of Institutional Equity Strategy.

“It appears investors may be satisfied with at least half a Republican Senate and no tax increase, knowing they have a ‘Fed put’ if fiscal assistance is slower in coming. This favors Growth stocks over Value near-term.”

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Traders are also still grappling with the idea of a contested election, as Wall Street strategists claim that could have major consequences for the stock market. “News of a contested election could cause a sharp drop in stocks in the very short term, but we do not see it as a bearish gamechanger,” Tom Essaye, founder of the Sevens Report, said.

Traders are also watching the Senate race closely as the result of that race will have major implications on the future of the market as a whole. A Democrat win in the Senate and a Biden presidency has a lot of traders worried about the higher tax rates that would impact technology shares especially. 

On the other hand, some traders think a blue wave in the Senate and White House could lead to a larger stimulus package for Americans as we continue to battle the coronavirus pandemic; which would also boost stocks linked to the larger economy. 

“When this is all said and done, I still believe equities will move higher regardless of who wins the Oval Office. The coronavirus pandemic and U.S. monetary policy will be bigger market drivers over the long haul,” said Ryan Nauman, market strategist at Informa Financial intelligence.

2020 Presidental Election

2020 Presidential Election Still A Close Race As Of Wednesday Morning

(9:00 a.m.) It’s the morning after Election Day and it’s still too early to call who the winner will be. Votes are still being counted in Alaska, Arizona, North Carolina, Nevada, Wisconsin, Michigan, Maine, Georgia and Pennsylvania. 

“Biden holds the lead in the Electoral College at this stage in the count, with 224 electoral college votes. Donald Trump has 213 electoral college votes. Both candidates still have pathways to get to 270 electoral votes – the number of votes needed to win the presidency.”

Currently Biden’s camp is confident that they’re on the right track based on the states they’ve already won and the states whose votes have yet to be counted. Biden is currently ahead in Wisconsin after trailing right behind Trump all night. Trump had been leading in the state by about 100,000 votes all night but as of this morning Biden is leading by 21,000 votes due to all the mail in absentee ballots being counted. 

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Georgia is one of the crucial states that could help either candidate in their race to the White House. The state reported that they’ve begun counting absentee ballots in Fulton County: Georgia’s most populated county with more than a million residents. There are about 48,000 absentee votes still to be counted in the county as well. 

If one thing’s for sure, this race is nowhere near how close it was in 2016, it’s closer. CNN’s Phil Mattingly recently discussed the ways in which both candidates can still win this election. “If Trump wins Alaska, North Carolina, Pennsylvania and Georgia, and if Biden holds on to his lead in Wisconsin, Nevada, Arizona and Maine, and overtakes Trump in Michigan, that’s Biden’s path.” 

On the other end, “If Trump wins Pennsylvania, holds his lead in Michigan and flips Nevada, because it’s currently a very close race, he will have the votes he needs.” Both candidates will need to dig into each other’s territories that are more traditionally red or blue in order to secure the votes they need. 

(9:17 a.m.) 8% of the vote remains to be counted in Georgia, 14% of the overall vote in Michigan needs to be counted as well. The Michigan Secretary of State recently told the press this morning that hundreds of thousands of votes are still to be counted. 3% of the vote remains to be counted in Wisconsin, and in Pennsylvania, 25% remains. Pennsylvania also allows mail-in votes to be received and counted up until Friday.

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“The simple fact is there are still votes to be counted … votes cast legally still to be counted in states where the margins are thin,” according to CNN’s Jim Sciutto. The absentee ballots are one of the most crucial aspects of this election process. 

As of 9:00 a.m this morning it’s now being reported that Biden could overtake Trump in Michigan due to the absentee ballot votes being counted, yet again. Additionally, a senior official in Governor Tom Wolf’s administration recently spoke with the press about how Pennsylvania is still at play as well even though Trump is leading in the state currently. 

“As of this morning there were 1.4 million absentee ballots still to be counted. The margin of difference between Trump and Joe Biden currently stands at just over 618,000 with 75% of the state’s votes counted.”

65% of the mail-in ballots from Pennsylvania came from registered Democrats as well, but that doesn’t mean they all voted for Biden. Biden’s camp, however, does see a clear path of victory for the former Vice President. According to a senior adviser on the campaign they are confident that they’ll win Wisconsin and Michigan based on the current vote-by-mail numbers. 

They’re also confident that they can overtake Trump in Pennsylvania due to the amount of registered Democrats that voted via mail. While Trump is still leading in the state by 618,000, there are around 1 million absentee ballots still to be counted, and as we’ve seen with Wisconsin and Michigan, the absentee ballots could change everything. The camp is still unclear as to how they think Georgia will move as well. “We feel good,” the senior adviser said. “We’re going to win today.”

America Braces For Impact As Election Day Approaches This Week

An extremely divided nation will be voting for their next president this week as both candidates continue last stitch efforts to gain crucial votes while also dealing with the Covid-19 pandemic that has now killed more than 220,000 Americans and infected more than 8 million.

Supreme Court Washington DC

Amy Coney Barrett Confirmed As Supreme Court Justice, One Week Before Election Day 

Justice Amy Coney Barrett could easily spend three decades sitting on the Supreme Court, however, the way in which she got to her position of power will not soon be forgotten by the American people who have had quite the year watching their current administration mishandle a global pandemic and further dividing the country politically. 

Barrett will begin her tenure one week before Election Day in what’s being referred to as one of the most rushed Supreme Court appointments in history. Barrett has received a wave of critiques from Americans and politicians who believe Trump pushed for Barrett to replace the late Justice Ruth Bader Ginsburg as a means of maintaining a Republican-controlled Senate, and now, her presence in the 6-3 conservative-liberal bench could transform the law in America for generations. 

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Barrett won the Senate vote 52-48; one of the closest Justice votes in history. Trump made it clear, however, that this was a divisive move as he knew putting Barrett in quickly would allow the high court to make crucial case decisions that would affect the outcome of the election between him and Joe Biden. Several challenges to voting rules in the key states of Pennsylvania and North Carolina are pending, just one week before Election Day. 

“The oath that I have solemnly taken tonight means at its core that I will do my job without any fear or favor and that I will do so independently of both the political branches and of my own preferences.”

Americans aren’t convinced of Barrett’s oath, however, as they know she has extremely conservative values when it comes to things like abortion and religious rights, LGBTQ+ protections, and federal funding for things like the environment or workplace protections. The other discrepancy citizens are having with this nomination is the fact that Justice Barrett has little to no experience being a court justice especially when compared to the seven other individuals sitting on the bench with her.

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Beyond that, the fact that Trump has now been able to appoint three Supreme Court Justices, making the bench predominantly conservative, has Americans fearing that his right-winged policies will survive for years and years, regardless of who’s in the White House. 

In traditional circumstances new Justices’ are sworn in at the Supreme Court, and in recent decades most of the new Justices’ struggle with how to respond to presidential invitations. Supreme Court Justices are meant to hold power in their own right, and should loath being seen as a prop for the president, as their judicial power is meant to rise above any one political ideal and instead abide by the law itself. 

Barrett and Trump’s “collaborative” type relationship, and Trump’s presence at her swearing in, could be fraught on by voters and the electoral college come Election Day. Chief Justice John Roberts is scheduled to administer the judicial oath to Barrett in a private event held at the Supreme Court this Tuesday, after which she will be able to assume her duties on the Court. 

For the newest justice, however, Covid-19 will likely postpone any other rituals or personal gestures that are typically offered to new Justices. These rituals normally involve a welcome dinner for the newest member which is a black-tie affair, and while the postponement of a party may not seem like a huge deal, the breaking of traditions surrounding this entire judicial process is staggering in terms of American history. 

Biden Gains Momentum In Polls As Key Demographics Switch To Vote Democrat

We’re a little more than a week away from Election Day and Joe Biden’s goal of reaching the White House in 2021 could be dependent on two crucial demographics who’s previous loyalty to Trump led him to his presidency back in 2016.

US Presidental Debate

Biggest Takeaways From The Final Trump-Biden Debate 

The second and final debate between President Donald Trump and Democratic challenger Joe Biden took place Thursday night in what experts are calling a “more normal” debate when compared to the original showdown between the two candidates. 

Trump entered the debate and maintained a relatively calm presence, under the advice of his administration who pleaded with the president to cool down this round. The basis of his arguments remained the same as the previous debate: he downplayed the coronavirus pandemic and took no personal responsibility for America’s failings in handling it, threw personal attacks at Biden, and lacked an overall sense of substance in his answers. For example when asked about a health care agenda for his second term, Trump avoided the question and yet again made it through the night without mentioning a plan.

Additionally, the first question Trump was asked regarded how he would lead during the next stage of the coronavirus pandemic, to which the president reflected on the “success” he’s already had within the past year. The centerpiece of Trump’s arguments focused on the mentality that “it could be worse,” despite the fact that more than 220,000 Americans have now died. 

“It will go away and as I say, we’re rounding the turn, we’re rounding the corner. It’s going away.”

Trump made the above claim while avoiding discussing the multiple surges in cases occurring all across the nation currently. He did optimistically claim that a vaccine would be arriving “within weeks,” despite having no real evidence that that’s true. In a later portion of the debate he backtracked and mentioned that there was no “guarantee” one would be ready but he’s hopeful one will be ready by the end of the year. 

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Biden then offered a much darker, more realistic, painting of America’s handling of this virus, claiming we’re heading toward a very “dark winter” due to the action’s of Trump. Biden accused Trump of denying responsibility for Covid’s spreading in the US and downplaying the virus for months despite the piles of evidence being presented to him. 

“Anyone who’s responsible for that many deaths [over 200,000] should not remain as President of the United States of America.”

When discussing how he would handle the virus, Biden was able to list out some more specifics in terms of a concrete plan of action. He said he would establish a national standard for the reopening of schools and businesses and stimulus payments to get the nation as a whole back on track. He also projected that a vaccine wouldn’t realistically be available in America until at least the middle of next year, which is more on par with what public health experts are claiming, so instead he knows the biggest concern will be minimizing the spread. 

Trump, however, already has 50 million votes cast for him, and as he nears the same position he was in four years ago when he was going up against Hilary Clinton, he’s decided to resort to the same tactics he used back then to hopefully secure him another win. He tried to paint Biden to be a typical politician, like he did with Clinton, and pointed out that he’s been in office for nearly 50 years and America still has the same issues it did 50 years ago, like systemic racism. Trump continued to try to place every systemic issue America has experienced within the past five decades on Biden, which only gave Biden an opening to discuss all the successes that occurred under the Obama administration. 

Trump then continued to attack Biden and brought up the allegations made against his son Hunter and his involvement with the Ukraine, to which Biden just turned it back around and mentioned that “the guy who got in trouble in Ukraine was this guy,” pointing to Trump, “trying to bribe the Ukrainian government to say something negative about me, which they would not do.” Remember, it was Trump’s actions in the Ukraine that led to his impeachment. 

Biden then fully flipped the attack on Trump by going down the list of all his failings, specifically in terms of his administration’s economic, health care, and immigration policies. This was the moment in the debate that viewers really saw the difference between their two candidates. One answered every policy related question with a series of detailed proposals that explained how each would impact the average American household while the other kept the statements short, general and in high praise of the current administration. 

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Biden continued to assert his position byt slamming Trump for trying to have the Supreme Court undo the Affordable Care Act and all of its protections for those with pre-existing medical conditions; a pool of people that Biden mentioned will soon include those who suffered from Covid-19. Trump has long promised a new health care plan that would protect all Americans regardless of their current health status, but hasn’t even mentioned the specifics of a new plan once within the past four years. 

Biden, on the other hand, detailed his already existing proposal that would allow Americans to buy into a public health insurance program, he called the proposal “Bidencare.” He also asserted that minimum wage should be nationally raised to $15 an hour while Trump said the matter was up to the states. 

Then, more importantly, the issue of immigration was brought up, to which Biden immediately mentioned the 545 children that were separated from their parents at the border this week, to which Trump responded that they were being “very well taken care of,” despite the fact that some haven’t seen their families in months, which made Biden very upset. 

“They got separated from their parents, and it makes us a laughingstock and violates every notion of who we are as a nation.”

The issue of race and systemic racism was then raised, to which Trump claimed he’s done more for African Americans than any previous president since Abraham Lincoln, claiming to be the “least racist person in the room.” Biden then cast Trump and his entire administration as one that has consistently sought out to divide the country racially. 

“Abraham Lincoln here is one of the most racist presidents we’ve had in modern history. This guy has a dog whistle as big as a fog horn.” The night then ended with Biden claiming he would transition the country away from the oil industry because of how much it pollutes the earth. As of right now the race is stagnant, so the most important thing to remember is to get out and vote!! 

For all questions/information regarding voting in the upcoming presidential election, click here.

White House in DC

Trump Returns To A Coronavirus-Filled White House Despite Expert Concern

President Donald Trump eagerly returned to the White House this Monday after spending three nights in the Walter Reed Medical Center fighting Covid-19.

The Latest On Donald Trump’s Covid-19 Diagnosis

***Last Updated 10/5/2020 at 11:00 a.m.***

This past Friday President Donald Trump was hospitalized at the Walter Reed National Military Medical Center in Bethesda, Maryland after announcing that he had tested positive for Covid-19. Dr. Brian Garibaldi is a leader on Trump’s medical team who recently updated media outlets claiming that the president could be discharged from the medical center as early as Monday afternoon. 

On Saturday, Garibaldi claimed that Trump completed his second dose of redesivir and was feeling better by Sunday. Now, Trump is hoping to be discharged to complete his treatment in the White House. White House Chief of Staff, Mark Meadows, recently claimed that the president could be released from the medical center after he consults with his doctors later Monday afternoon; which is also when his discharge decision will be made public. 

Trump received scrutiny on Sunday, however, after leaving the medical center with his security team so he could ride in an SUV past his supporters who were cheering him on outside the hospital. 

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The White House claims all “appropriate precautions” were taken before Trump went on the SUV ride, however Dr. James Phillips, an attending physician at Walter Reed, criticized the decision as something that could further endanger the lives of the Secret Service agents who accompanied the president, claiming that his “irresponsibility is astounding.”

On Sunday it was reported that the president’s oxygen levels had dropped for a second time since his diagnosis last Friday. Trump had also been receiving supplemental oxygen due to these dips, and was also given the corticosteroid drug dexamethasone. Dexamethasone is a widely available steroid that’s been used throughout this pandemic for patients on supplemental oxygen/ventilated individuals. 

When it comes to the president’s official release from the hospital, Rudy Giuliana claims that he will be waiting until his doctors actually give him the stamp of approval to do so. 

“He wants to get out. He sounds perfect. I just cautioned him to listen to his doctors. I said I hope that’s not your decision, it’s the doctors, He said ‘no no, these guys are great. I’ll do what they tell me.’”

After Trump’s brief trip out of the hospital to greet supporters, Giuliani admitted that the Secret Service would be at a greater risk protecting the president in the coming weeks, however, he also supported the decision on the basis that all parties involved were wearing masks at the time. 

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First lady Melania Trump also contracted the virus but has no plans of leaving the White House to continue out her treatments. Since her diagnosis Melania has quarantined in the Executive Residence in the White House and will be remaining there until it’s deemed safe for her to be around others again. The first lady has been relatively precautious when it comes to following Covid-19 procedures and has already cut back on all of her traveling plans/public appearances. 

When it comes to the pandemic in general, Dr. Anthony Fauci, the nation’s top infectious disease expert, claims that there has never been a global health crisis to this degree before; for reference Fauci has worked on a number of other viral outbreaks in the past such as the HIV/AIDS epidemic, Ebola, and Zika virus. 

“We’re living in such a very divisive society right now that’s very charged politically. You always have a degree of that when you have outbreaks as we’ve been in the past but nothing to the intensity that we’re experiencing now with Covid-19.”

With one month left before the 2020 election, Trump and his team are also scrambling to manage catching up to Biden in the polls and maintaining a strong media presence despite the president’s now lack of ability to be around others. Ballots are currently already out in 35 states and with voting beginning in the swing states next week, there’s no way the president’s diagnosis mixed with his downplaying of the virus that has killed over 200,000 Americans won’t have an impact on voters. 

Since the announcement of Trump’s diagnosis Mike Pence and Joe Biden have both tested negative for the virus, however, both will have to continue to be tested daily along with a whole slew of other US political leaders who have been working with/around Trump and his team within the past few weeks. As of right now at least 10 people within Trump’s family, the US Government, and Trump’s circle of advisors have tested positive while 23 others within his inner circle have continued to test negative.

America Coronavirus

President Donald Trump And First Lady Melania Have Tested Positive For Covid-19

President Donald Trump and first lady Melania have tested positive for the coronavirus. A staggering announcement after Trump and his administration spent the past six months downplaying the severity of the pandemic that has now claimed the lives of over 200,000 Americans. Trump just recently poked fun at Joe Biden during the first presidential debate for always wearing a mask, days before announcing his diagnosis. 

Trump has adamantly and publicly shared his beliefs that the coronavirus “would disappear and die out,” despite the fact that it continues to infect millions of individuals worldwide.  Trump and Melania both took to Twitter on Monday to share the news with the world.

“Tonight,@FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”

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Sean Conley, the physician to the president, recently released a memo claiming that the president and first lady are both still doing well at this time, and the White House medical team will be “maintaining a vigilant watch” on the two as the president continues to carry out his duties in office. 

Trump has since cancelled his busy schedule of in-person events that were geared to begin this Friday, which included a roundtable discussion with a group of his supporters at the Trump hotel in DC. According to guidelines from the US’ Centers for Disease Control and Prevention, Trump is at a higher risk of becoming seriously ill from the virus due to his age, 74, and the fact that he’s medically overweight. A majority of the individuals who have died due to the virus in the US have been over the age of 50.

Should something happen to the president in the coming weeks, the Constitution’s 25th amendment states that the vice president, Mike Pence, would take over his responsibilities as “acting president.” Pence himself has been getting tested for Covid daily, and as of Friday October 2nd, he remains negative. 

Many were quick to take to social media to express their lack of sympathy for the president’s diagnosis, especially considering he’s been holding massive indoor campaign rallies despite his own administration’s policies against them. Those rallies led to spikes in case numbers in their given areas to no one’s surprise after images from the events showed little to no social distancing occurring and barely any facial coverings in the crowd. Joe Biden took to Twitter on Friday morning to wish Trump well on his recovery:

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“Jill and I send our thoughts to President Trump and First Lady Melania Trump for a swift recovery. We will continue to pray for the health and safety of the president and his family.”

Trump has also been getting tested regularly since the pandemic first began impacting the US in March. It was that same month that Trump played down the threat of the virus, despite almost every other country in the world completely shutting down in response to its initial spread. In an interview published by Bob Woodward this month, it was revealed that Trump knew what he was doing in terms of downplaying the virus’ threat, claiming that he “wanted to always play it down because [he] didn’t want to create a panic.”

Daily Covid-19 briefings occurred from March to April but then ended abruptly after Trump became fixated on using chemical disinfectants and ultraviolet light as a treatment for humans. His focus also remained solely on reopening the economy, hence the multitude of businesses and events that have remained open and occurring all summer despite the massive amounts of healthcare workers urging Americans to just stay home and wear a mask. He insisted that the rising number in Covid cases in the US was due to an increase in testing, and claimed that if we stopped testing people as often as we were, the case numbers would go down. 

Trump also was adamant about making sure all schools and universities reopened for the fall semester, despite the fact that his administration shut down all schooling in March after only a couple thousand cases appeared. If anything, the president’s diagnosis should be a massive wake up call to all Americans that this pandemic is no where close to over, and with an election coming up in November, it’s essential to think about the people you want making policies on all levels of government (local, state, federal).