Wall Street Surges, Dow Up Almost 2% As GOP Likely To Hold Senate & Block Lib Tax Increases & Regulations

This is good news. As long as we hold the Senate we can thwart any attempts by the extreme left to roll back the major economic gains made under President Trump. Let’s just hope Trump pulls through with a win, also. Real Americans want jobs & economic security that only he can bring.

“Wall Street’s main indexes jumped on Thursday as investors bet on a Republican-held Senate that would block any moves by a Joe Biden administration to tighten regulation and raise taxes on corporate America, even as the presidential election remained too close to call.

The tech-heavy Nasdaq gained 2.7% and was within striking distance of it Sept. 2 record closing high.

The Philadelphia SE semiconductor index surged 4.1% to hit its own all-time high, while technology and communication services led gainers among S&P indexes.

The materials index also hit a record high, boosted by a 7.6% rise in shares of U.S.-German industrial gas producer Linde after it raised its expectations for full-year earnings.

With President Donald Trump and his Democrat rival Biden still awaiting clarity from the battleground states expected to decide the election, investors were returning to the core setting of the past decade: buying stocks with the flood of extra monetary stimulus coursing through the financial system.

RELATED: BREAKING: Alleged MI USPS Worker Says They Were Ordered To Handstamp “Nov. 3rd” On Late Ballots – WATCH

Biden edged closer to victory in the race for the White House on Thursday after winning Michigan and Wisconsin, but Democrats appeared unlikely to win the Senate, potentially making it difficult for a Democrat administration to rein in Big Tech and other businesses.

“Markets prefer divided government,” said Brian Levitt, Invesco global market strategist.

“Incessant hand wringing over the key issues and concerns over the prospects of higher taxes, a Green New Deal, changes to the Affordable Care Act and much more appears to have been for naught.”

Shares of technology mega-caps including Apple Inc, Amazon.com Inc and Alphabet Corp, this year’s big “stay-at-home” gainers from coronavirus lockdowns, added to strong gains from Wednesday.


The VIX volatility index, which has risen in recent months as investors feared the vote might spark falls in shares, retreated to its lowest in three weeks.

Renewable energy, infrastructure, marijuana and trade-sensitive stocks, which analysts have identified as winning under a Biden administration, rebounded after underperforming in the previous session.

But investors also sought the safety of bonds as the prospect of a divided Congress dented expectations of a bumper fiscal stimulus package that is critical to supporting a damaged U.S. economy. Coronavirus risks also grew with new U.S. infections setting a daily record.

RELATED: BREAKING: Irregularities In Deep Red MI County Investigated After Massive Biden Lead Raises Eyebrows

Attention later in the day will be on the Federal Reserve’s latest policy statement after a two-day meeting, but with the final result of the election still uncertain, the central bank is expected to repeat its pledge to do whatever it can to help the economy.

In midday trading, the Dow Jones Industrial Average rose 422 points, or 1.5%, to 28,269. The S&P 500 jumped 60 points, or 1.7%, to 3,502, while the Nasdaq Composite gained 257 points, or 2.2%, to 11,846.

The Dow had been up more than 615 points earlier.”

Excerpted from Newsmax.

Facebook is suppressing traffic to the websites of conservative journalists. They can’t control our email, though! Don’t let Zuckerberg decide what news you get to see! Support independent journalism by signing up for my email newsletters! You will get my footage from leftist riots, border wall construction, and more. Enter your email below! Thank you!

Email address:

Jeff Rainforth is a freelance photographer & news editor covering events on the US/Mexico border, and riots & unrest in Democrat-run cities.
Like Jeff on Facebook HERE
Follow him on Twitter HERE

Facebook Comments
About Jeff Rainforth 580 Articles
Jeff covers border news in the US and has traveled around the world documenting the border walls and counter-terrorism efforts of other countries. He runs the Rainforth Report on Substack. In 2022 Jeff embarked on a border crisis tour, documenting cartel trafficking of drugs and humans. The year before he was contracted to film on the border with Ben Bergquam of America's Voice News and also for Women Fighting for America. Jeff was the videographer for the March for Trump bus tour which crossed the country twice and ended on January 6th, 2021 in DC at the Capitol. He filmed the events that took place at the Capitol Building. Jeff was the videographer and news editor for We Build the Wall, the organization founded by triple-amputee vet hero Brian Kolfage. He was the sole photographer allowed to be on site to document the construction of the first ever privately built border wall. Jeff has worked on Kolfage's projects since 2015. Steve Bannon sent Jeff to embed with the Hong Kong protesters, covering their fight for freedom against the Chinese Communist Party, and regularly films inside of riots in Democrat-run cities in the United States. Bannon also sent Jeff to film for a documentary on border walls in mainland China as COVID was about to emerge from the country. Bannon and Kolfage then sent Jeff to film walls and counter-terrorism efforts in Thailand, Malaysia, Israel by the Gaza Strip, Hungary & Serbia, France, Spain, and north Africa. As of 2022 Jeff is an editor at Populist Press and other news sites. Jeff did a special 2nd Amendment project for Navy SEAL Rob O'Neill who killed Bin Laden, and he was the national rally organizer to free Marine Sgt. Tahmooressi from the Mexican prison. He is chairman emeritus of Ross Perot’s Reform Party of California, and a former candidate for governor. He wrote for former war correspondent & Breitbart contributor, Pat Dollard, and headed up his 30-person research team. Mr. Rainforth also wrote for the Wayne Dupree Show. Jeff is a two-time nominee for the prestigious Blog Bash Award for best activism for organizing the national movement to form a select committee on Benghazi, and for his role as the national rally organizer to free Marine Sgt. Andrew Tahmooressi from Mexican imprisonment. Jeff appears in Sgt. Tahmooressi's mother's book, "When Light Prevails."

Be the first to comment

Leave a Reply

Your email address will not be published.