MIEX Offical

  It seems everyone is speculating on which will be better for the U.S. stock market: a re-election of President Donald Trump or an election of former Vice President Joe Biden to the Presidency. While opinions can be heated and often driven by one’s political predilections, in reality, the outcome of the election may not matter all that much to the markets. Both candidates have presented their economic visions for the future, and both have received positive reviews on their plans. For those willing to hear a few positive things about the ‘other’ candidate, here are a few points on why each candidate can potentially help the stock market move higher in 2021 and beyond: Donald Trump can be viewed as more favorable because: The Tax Cut and Jobs Act of 2017    will remain intact under Trump.  The Act lowered corporate income taxes to a maximum of 21%, making U.S. corporations more competitive on the global stage. The Act also allowed more certainty for planning and capit...

  Will there be a stimulus deal? Here’s what you need to know—and  what it could mean for your wallet . New Stimulus There’s no clear sign that Congress will reach a stimulus deal before the November 3 election. As Americans await  second stimulus checks  and federal unemployment benefits, here are 5 potential outcomes of what could happen next: Option 1: Congress could reach a stimulus deal before the election Congress could reach a stimulus deal before the election, although there doesn’t seem to be a clear path currently. Option 2: Congress agrees on a stimulus deal, but president doesn’t sign bill Congress could agree on a stimulus deal, but the president must sign the legislation before it becomes law. One possible scenario—if and when Congress reaches a deal—is that the president decides not to sign the bill before the election, or at all. This scenario is probably low likelihood, since the president supports a new stimulus deal as well as second ...

Oil prices slipped on Friday and were set for a weekly decline due to mounting worries about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya.   Brent is heading for a drop of nearly 3% this week with U.S. crude on track for a decline of around 2%. Both benchmarks are also heading for a monthly decline, which would be the first for Brent in six months.   "The outlook for oil demand remains challenging as prospects of new mobility restrictions continue to rise," ANZ Research said in a note.   In the United States, which has the highest death toll from the coronavirus pandemic and is the world's biggest oil consumer, unemployment claims unexpectedly rose last week suggesting an economic recovery is flailing and pushing down fuel demand.   U.S. fuel demand remains in the doldrums as the pandemic constrains travel. The four-week average of gasoline demand ...

Wall Street analysts warn that the death of Supreme Court Justice Ruth Bader Ginsburg—and the ensuing battle over her successor—will engulf Washington and further decrease the likelihood of another fiscal stimulus bill to help the economy recover from the coronavirus recession.   With President Trump pledging to announce his Supreme Court nominee by Saturday, the upcoming debate will “formally eliminate whatever chance may have still existed for pre-election fiscal stimulus,” says Adam Crisafulli, founder of Vital Knowledge.   Stefanie Miller, managing director of FiscalNote Markets, agrees that the battle over the Supreme Court vacancy will be the “death knell for COVID-19 relief prior to the elections,” as Republicans seek to jam through a nominee and Democrats take “dramatic actions” to impede the process.   Economists at Wells Fargo Securities put the chances of another stimulus bill before the election at just 25%, saying that the prospects for an agreeme...

The market fell sharply on Monday, extending its three-week losing streak as stocks took a hit from an uptick in new coronavirus cases, declining tech shares and deadlocked stimulus talks in Congress. The Dow Jones Industrial Average was down 1.9%, around 500 points, on Monday, while the S&P 500 fell 1.2% and the tech-heavy Nasdaq Composite dropped 0.1%.   Stocks pared back some losses in the final hour of trading, but the S&P 500 posted its first four-day losing streak since February.   Market sentiment took a hit after both the U.S. and Europe saw a resurgence in coronavirus cases over the weekend: The U.K. is reportedly considering another lockdown, while countries like France and Spain have seen an alarming rise in new infections.   Fears that a second wave of coronavirus could lead to further government restrictions and lockdowns caused shares of companies that would benefit from a reopening of the economy—including airlines, cruise operators ...

House Speaker Nancy Pelosi (D-Calif.) on Thursday doubled down on her insistence on a comprehensive stimulus package worth at least $2.2 trillion, telling reporters that “it’s hard to see how we can go any lower.”   Her comments came the day after her first conversation with Treasury Secretary Steven Mnuchin, who has been leading stimulus negotiations on behalf of the White House, in more than two weeks, the Washington Post reported.   President Trump also jumped back into the stimulus fray on Wednesday, unexpectedly and publicly pushing Republicans to accept a more expensive bill—including another round of stimulus checks—because he “want[s] to see people get money,” he said at a press briefing.     That would be a major reversal for the Senate GOP, which has spent the last six months insisting on a smaller, targeted package worth no more than $1 trillion, which Senate Majority Whip John Thune has said was already too pricey for some Republicans. ...

Despite the recent market sell-off, rising optimism about a coronavirus vaccine and progress with reopening the economy should propel stocks back to record highs before the end of the year, according to a recent note from Goldman Sachs.   Goldman raised its year-end target for the S&P 500 to 3,600, implying a 6% upside from Monday’s close of around 3,383.   “ Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months,” David Kostin, Goldman’s head of U.S. equity strategy, said in a note on Monday.   The S&P 500 is now attempting to rebound from its first two-week losing streak since May, which was sparked by a sharp sell-off in high-flying technology stocks that pushed the Nasdaq Composite into correction territory, falling 10% in just three days of trading.   Goldman called the recent sell-off a “warp speed correction,” noting that reasons for optimism—mainly progress on a coron...