“Bookies have seen a flurry of bets over the last few days on the tycoon being re-elected into the White House in the Y 2020 elections“– Paul Ebeling
Analysts at JPM (NYSE:JPM) said in a note Tuesday that risk markets in the 1st 2 wks of October were supported by a widening of US Presidential odds, implying a lower probability of a close or contested election, but over the past wk, those odds started narrowing again. The the odds of GOP control of the House, Senate and White House have ticked up.
That could pressure risk markets with negative implications for the so-called “value trade,” which is seeing a steepening yield curve and prospective shift towards traditional cyclical stocks like banks.
Wednesday, the benchmark US stock market indexes finished at: DJIA -97.97 to 28210.76, NAS Comp -31.80 to 11484.62, S&P 500 -7.56 at 3435.56
Volume: Trade on the NYSE came it at 849-M/shares exchanged
HeffX-LTN’s overall technical analysis of the major US stock market indexes is Bullish with a Very Bullish bias.
- NAS Comp +28.0% YTD
- S&P 500 +6.3% YTD
- DJIA -1.2% YTD
- Russell 2000 -3.9% YTD
Looking Ahead: Investors will receive the weekly Initial and Continuing Claims report, Existing Home Sales for September, and the Conference Board’s Leading Economic Index for September Thursday.
Have a healthy day, Keep the Faith!