S&P500 Rebound On The Horizon? Biden Ahead In States

S&P500 Rebound On The Horizon? Biden Ahead In States

PRESIDENTIAL ELECTION, SWING STATES, NEWS FROM THE POLLS, DEBATE SUMMARY – CRUCIAL NEWS

  • Biden stays ahead of the current president in most important swing states, Florida still uncertain.
  • The last debate ahead of the election turns out more successful. The moderator gets the option of muting the microphone.
  • Tech evidence suggests that an S&P500 reversal is in the works.

NINE DAYS UNTIL ELECTIONS

There are 9 days left before the elections on November 3. The analysis still has Biden ahead of Trump by a seven-point lead he maintained for a few months. This doesn’t count in a short stint of convergence where the current president almost took over. His standing went down sharply after the initial debate, as well as his poorly-received pandemic response.

2020 American Election Polls

The 3 Great lake states that Trump won in 2016, Michigan, Pennsylvania, and Wisconsin, are now showing numbers in Biden’s favor, Politico noted. Florida, an important swing state, is still a mystery for forecasters. When looking at the candidate’s spending, the numbers are approaching 200 million dollars in television advertisement investments per each candidate!

REVIEW OF THE 3RD PRESIDENTIAL DEBATE

The debate’s outcome is still unknown, but the new option of muting a candidate’s mic proved fruitful and allowed Biden and Trump to get their points across better. These included reopening the states and their economies and handling the pandemic and the growing climate change problem. The marketplaces didn’t significantly react to the third debate, probably since investors viewed the fiscal talks with wariness.

FISCAL AID NEGOTIATION OUTCOMES STILL UP IN THE AIR

Following the already tiring news surrounding the USA-China trade war, those following the already tiring news are beginning to see the newer negative results that some did not consider. Speaker of the House Nancy Pelosi and Treasury Secretary Steven Mnuchin have been updating the public about the events, but the marketplaces are unimpressed by the situations’ unraveling.

The Standard & Poor 500 Index could continue without some real direction until further clarification is provided, except for unforeseen geopolitical unravelings. Pelosi and Mnuchin will probably deal with these issues to get a bill through before the elections and see if that will affect the S&P500 and push it up. From a tech point of view, the recovery may be beginning to gain traction.

REVIEW OF THE S&P500

The well-known index could be on a turning point, after going down three percent before bottoming out at circa 3433. In the upcoming times, the S&P500 could attempt recovery when talking about the losses last week, eyeing a record-high of 3588.1. With several risks, the geopolitical situation in the world could significantly affect recovery.

Daily graph S&P500

S&P500 chart
S&P500 chart created using TradingView