Thursday - Stimulus Hope Before Election is Dead

 Yesterday major indexes closed in negatives. Today, futures are under pressures. Investors are convinced that the boost in spending from the Fed will not be in effect until mid Nov, according to Steve Mnuchin. Although that sounds troubling, but there seem to be more into it. Outside of the tech bubble, earnings are questionable. Also, another 898k new jobless claims purred onto the market.

Moderna got permission to test their anti-virus on candidates for fast track in Europe.

There is hope that Netflix could grow another 21% in short term due to the dramatic change in the world.

Uber is finding Lyft to be a challenger to its UberEat after they constructed a deal with GrubHub.

City of Toronto has closed a deal with Local Motors to put Olli driverless shuttles in trial as early as Spring 2021.

US presidential election's second debate was tossed because moderators had asked candidates to have it in a virtual mode which Trump refused.

S&P is behaving very much like it was in 2009. It seems stock market will go on its own path in every crisis. They fall, and when there is hope for stimulus they keep rising and then they keep a bullish trend because investors get more comfortable with a solution being constructed. The only difference this time is that we have an election and the entire world was not fighting a pandemic in 09. 

Stock suggestions for the coming down trend: Netflix and Zynga.

Let me know what you think.

Keep smiling and stay charitable.