Why do you think stocks went up today?

Stocks tend to go down on Fridays, up on Mondays. It’s the nature of the beast.

The market is sure Biden is going to win !

@kritiper Per
https://www.investopedia.com/terms/w/weekendeffect.asp
“The weekend effect is a phenomenon in financial markets in which stock returns on Mondays are often significantly lower than those of the immediately preceding Friday.” That seems to be the direct opposite of what you stated. Perhaps you have other links that state what you are saying.

Stocks rallied today because all the confusion over the weekend from the White House made a Biden win more certain:

“To me, the optimism in the market has to do with an increased conviction that Joe Biden will win [the presidency] and that will bring in a Blue Wave which in turn, will bring a large fiscal stimulus package early next year,” explained Compass Point Research director of policy research Isaac Boltansky on Yahoo Finance’s The First Trade. “There is no doubt in a Blue Wave scenario you will have higher taxes for capital, for corporations and high earners. There is no doubt of that. As the market slowly gets its arms around those realities and digs into the potential legislative responses, it sees not just higher taxes but also a broader fiscal expansion that would come from a Blue Wave especially farther down the economic spectrum. I think those types of puts ands takes are considered coupled with more certainty.”

@crazyguy No links needed. I used to watch the stock market reports on CNN.

@zenvelo The stock market looks ahead but I am not sure it looks that far ahead. If Biden wins, he will be sworn in late January 2021. Before he can draft up a legislative package and get it passed will be at least six months (with Democratic House and Senate) and probably much longer. That would require the market to look ahead about a year. I do not think the market looks ahead that far. I think the market is hoping for a split do-nothing government, which will probably not disturb the status quo.

@kritiper After reading your comment, I thought: “Perhaps I was wrong.” So I researched it. You may wish to do the same. Sometimes things change. Other times we think we knew, but we really did not.

@crazyguy Please don’t ask a canned question and then refute people who respond.

Goldman Sachs is out today with the opinion that a Blue Wave would be best for the economy over the next five years, because the grownups would be back in charge. I weigh Goldman’s expertise over just about anyone else in Finance.

Earnings reports start next week, and the street is looking not at the immediate numbers from an anticipated-to-be underperforming quarter, but more on the prospects for 2021. We all know the economy has been in the shitter this year, so investors want some assurance for next year.

Is it true that stocks dipped by hundreds of points right after the announcement that the White House would not listen to talks of helping citizens impacted by covid, whether by illness, job loss, or whatever, until after the election>

By the way @crazyguy The Dow flipped from +300 to -150 when Trump said he was dropping work on a stimulus bill.

@zenvelo Closed down 375 points – - – 27,772 ! ! !

Way to kick-em in the nuts DJT !

@zenvelo What is a “canned question”? If a response does not meet certain standards it shall be refuted.

I do have respect for Goldman Sachs. Biden is indeed a grown up compared to Trump. Except he grew up as an establishment guy. Of course the establishment loves him.

@AlaskaTundrea You are correct. The market did dive when Trump canned the stimulus talks. So perhaps that is the driving force behind the rally.