Markets Rally on Trump's Health News... (unemployment, election, elect, retired)

[paracord]

We all know the markets love a President like Trump. They are up 50% since his election win not even 4 years ago, even while enduring a pandemic!

https://www.investors.com/market-tre...g-trump-boost/

[Rachel976]

Is it fair to say that the markets are predicting a Trump victory? If Biden wins and the Senate turns, they could push through that big increase in corporate taxes, thereby lowering stock values (to say nothing of hampering hiring and raises). Thoughts?

[BobNJ1960]

Originally Posted by Rachel976

Is it fair to say that the markets are predicting a Trump victory? If Biden wins and the Senate turns, they could push through that big increase in corporate taxes, thereby lowering stock values (to say nothing of hampering hiring and raises). Thoughts?

I do expect a 15k DJ, plus sustained double digit unemployment if Biden wins. Plus higher tax rates for the middle class, amounting to several thousand more in taxes annually for tens of millions of families.

[Rachel976]

Originally Posted by BobNJ1960

I do expect a 15k DJ, plus sustained double digit unemployment if Biden wins. Plus higher tax rates for the middle class, amounting to several thousand more in taxes annually for tens of millions of families.

Yup. I moved heavily into cash over the last few months. I am now retired, without a pension, and cannot afford to have my lifelong savings wiped out because a progressive Democrat takes over. Lots of middle-income seniors (or near-retirees) will be in for a world of pain if Biden wins.