$DIA $SPY $QQQ $RUTX $VXX
“Ladies and gentlemen I am officially running for President of the United States, and we are going to make our Country great again. It can happen. Our Country has tremendous potential. We have tremendous people.”
– Donald J. Trump, Trump Tower June 16, 2015
Note: It was reported last week Joe Biden had taken in more than $74-M from Wall Street workers, while President Trump raised $18-M from The Street.
White House economic adviser Larry Kudlow warned that Wall Street executives who are backing former Vice President Joe Biden would suffer with Democrats if took control.
Many financial industry leaders have “turned to the left” and “become very progressive,” the veteran financial guru said.
Mr.Biden has promised to roll back some of the corporate and personal income tax cuts Trump and Congress finalized in late Y 2017. He would also increase the taxes high-income earners would pay towards Social Security, which provides insurance benefits to the elderly and others.
Industry leaders would have “many, many regrets” under a Biden Presidency, said Mr. Kudlow.
“For some reason, they do not think Mr. Biden is going to move far left,” Mr. Kudlow said. “I think he will. Just look at the people around him.”
He said “we will get our share of Wall Street folks,” adding that President Trump by saying that the Republican Party during his tenure has expanded its base to include “middle America” and “ordinary folks working every day.“
“The GOP is not the Country Club party that it was many, many years ago,” he said. “It has changed. I think it has changed for the better.”
Monday, the benchmark US stock market indexes finished at: DJIA +423.45 at 26924.99, NAS Comp +46.02 at 10957.54, S&P 500 +40.28 at 3310.24
Volume: Trade on the NYSE came in at 890-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 +22.1% YTD
- S&P 500 +2.5% YTD
- DJIA -5.7% YTD
- Russell 2000 -6.0% YTD
Looking Ahead: Investors will receive Factory Orders for September and auto and truck sales for October Tuesday.
Making and Keeping America Great!
Have a healthy day, Keep the Faith!