U.S. stocks fell Friday, with the Dow Jones Industrial Average closing out its worst week and month since March in the final lap of the presidential race. Volatility reigned in the week before the Nov. 3 contest. Investors have been spooked by a record high in coronavirus infections in the U.S., fresh lockdowns in Europe that threaten economic growth and a mixed bag of earnings report from big technology companies. “Markets are concerned that we are replaying February and March,” said Chris Beauchamp, chief market analyst at IG Group. “It probably still isn’t in that category yet, but it is heading in the wrong direction.” The Dow dropped 0.6% on Friday, paring its worst losses of the day. The blue-chip index however shed more than 6.4% this week, its worst weekly performance since the height of the pandemic-induced market tumult.
补充，WSJ发现市场投资者更认为比总统更难预测的是这次选举谁会控制Senator Majority： https://www.wsj.com/articles/investors-see-senate-races-as-key-to-elections-market-impact-11604050202?mod=markets_lead_pos2 Investors See Senate Races as Key to Election’s Market Impact The prospects for many key policies hang on who controls the Senate For Wall Street, the coming election doesn’t hinge on just the presidency. The Senate matters almost as much. Many investors expect Joe Biden to win the White House. But the prospects for many key policy shifts—such as greater economic stimulus or Mr. Biden’s health-care policies—hang on who controls the Senate. That is harder to predict. Polls show a good chance that the Democrats could win unified control of Congress, but also that Republicans could hold the Senate majority even if they lose the presidency. Investors have seemed to embrace the prospect of a Democratic sweep, seeing it as their best chance at getting a multitrillion dollar coronavirus aid package and increased spending on infrastructure projects. Despite volatility caused by a surge in coronavirus cases, bets on a so-called blue wave have driven recent gains in shares of smaller companies, renewable energy firms and long-term bond yields, which tend to climb when investors expect growth, inflation and greater government borrowing. Senate Republicans have opposed the $1.8 trillion pandemic relief spending under consideration in talks between the Trump administration and House Democrats, citing concerns about its high price tag among other issues. Some on Wall Street believe GOP senators would be even less willing to deal with a Democratic president—suggesting that a win for Mr. Biden coupled with a Republican hold of the Senate could result in the smallest spending bill of any election scenario, including another victory for President Trump. 投资者预测为： 1.如果Dem拿下总统+GOP保持参议院：财政刺激包裹会比预期小，股市短期会下降，长期会healthcare和energy有利。 2.如果Dem拿下总统+同时拿下参议院：公司增税，监管加强，企业利润会短期下降。
U.S. stocks fell Friday, with the Dow Jones Industrial Average closing out its worst week and month since March in the final lap of the presidential race. Volatility reigned in the week before the Nov. 3 contest. Investors have been spooked by a record high in coronavirus infections in the U.S., fresh lockdowns in Europe that threaten economic growth and a mixed bag of earnings report from big technology companies. “Markets are concerned that we are replaying February and March,” said Chris Beauchamp, chief market analyst at IG Group. “It probably still isn’t in that category yet, but it is heading in the wrong direction.” The Dow dropped 0.6% on Friday, paring its worst losses of the day. The blue-chip index however shed more than 6.4% this week, its worst weekly performance since the height of the pandemic-induced market tumult.
补充，WSJ发现市场投资者更认为比总统更难预测的是这次选举谁会控制Senator Majority： https://www.wsj.com/articles/investors-see-senate-races-as-key-to-elections-market-impact-11604050202?mod=markets_lead_pos2 Investors See Senate Races as Key to Election’s Market Impact The prospects for many key policies hang on who controls the Senate
For Wall Street, the coming election doesn’t hinge on just the presidency. The Senate matters almost as much. Many investors expect Joe Biden to win the White House. But the prospects for many key policy shifts—such as greater economic stimulus or Mr. Biden’s health-care policies—hang on who controls the Senate. That is harder to predict. Polls show a good chance that the Democrats could win unified control of Congress, but also that Republicans could hold the Senate majority even if they lose the presidency. Investors have seemed to embrace the prospect of a Democratic sweep, seeing it as their best chance at getting a multitrillion dollar coronavirus aid package and increased spending on infrastructure projects. Despite volatility caused by a surge in coronavirus cases, bets on a so-called blue wave have driven recent gains in shares of smaller companies, renewable energy firms and long-term bond yields, which tend to climb when investors expect growth, inflation and greater government borrowing. Senate Republicans have opposed the $1.8 trillion pandemic relief spending under consideration in talks between the Trump administration and House Democrats, citing concerns about its high price tag among other issues. Some on Wall Street believe GOP senators would be even less willing to deal with a Democratic president—suggesting that a win for Mr. Biden coupled with a Republican hold of the Senate could result in the smallest spending bill of any election scenario, including another victory for President Trump. 投资者预测为： 1.如果Dem拿下总统+GOP保持参议院：财政刺激包裹会比预期小，股市短期会下降，长期会healthcare和energy有利。 2.如果Dem拿下总统+同时拿下参议院：公司增税，监管加强，企业利润会短期下降。
川王大势去夷
市场对确诊数目单日新高，欧洲lockdown以及除了字母表以外的big tech第三季度表现不如预期的短期反应。