Nov.07 -- Greg Valliere, chief U.S. policy strategist at AGF Investments, discusses the prospects for an economic stimulus deal after Joe Biden defeated Donald Trump to become the 46th U.S. president. "Joe Biden and Mitch McConnell have had a long relationship," Valliere said on Bloomberg Television. "They both pride themselves on the ability to get deals done."
The election may be over, but 2020's market volatility may not be done.
Dow Jones futures: After last week's big stock market rally, several leaders are in buy range, but Biogen is set to dive. Do this before Monday's open.
A victory by Democratic presidential candidate Joe Biden in the November election could significantly change tax bills for a slew of Americans. Here's what you need to know.
Former Vice President Biden has a detailed proposal that involves raising taxes on people with taxable income of more than $400,000—essentially targeting the top 1%. President Trump wants to keep the tax cuts that went into effect in 2018, which largely benefited top earners.
Warren Buffett jumped back into the stock market again in Q3, after net selling in Q2, and spent a record amount buying back Berkshire Hathaway shares.
On CNBC's "Mad Money Lightning Round," Jim Cramer said he would pick First Solar Inc. (NASDAQ: FSLR) over Solaredge Technologies Inc. (NASDAQ: SEDG).Plantronics Inc. (NYSE: PLT) is a good company and a very high quality stock, he said. He prefers lower-end companies, more gaming oriented, but he doesn't want to go against the call and he thinks Plantronics is a good one.Workhorse Group Inc. (NASDAQ: WKHS) is a bit of a showhorse for Cramer. If he wanted an EV stock, he would buy Plug Power Inc. (NASDAQ: PLUG).Instead of Moneygram International Inc. (NASDAQ: MGI), Jim Cramer would buy Paypal Holdings Inc. (NASDAQ: PYPL) because it is going all in with crypto.Fortinet Inc. (NASDAQ: FTNT) is okay, Cramer said. He prefers Palo Alto Networks Inc. (NYSE: PANW) and Crowdstrike Holdings Inc. (NASDAQ: CRWD). Cramer is pounding the table to buy Alibaba Group Holding Ltd. (NYSE: BABA).Trupanion Inc. (NASDAQ: TRUP) also is good, Cramer said -- he thinks we need pet insurance.See more from Benzinga * Click here for options trades from Benzinga * Carter Worth And Mike Khouw See SLV Moving Higher * Tony Zhang Sees Bullish Sign For American Water Works(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Of course, retirement security was on some legislators’ minds before the election. The Ways and Means Committee introduced bipartisan legislation last month called the Securing a Strong Retirement Act of 2020, which builds upon the Secure Act passed in December.
(Bloomberg) -- The emerging-market bargain-buyers are in celebration mode. And the party’s not over yet.The prospect of a Joe Biden presidency checked by a divided Congress has gotten everyone from to Eaton Vance Corp. to Medley Global Advisors predicting a fresh boost for risk assets, just a week after the stocks, currencies and bonds of developing nations hit the buffers as the U.S. election approached. BlackRock Inc. says developing-nation assets, which look more appealing in this low-rate world, could benefit from a more moderate leader in the White House. The Biden administration’s policy approach will probably reduce uncertainty, according to UBS Global Wealth Management.Gains for emerging markets would support the view that the election result is likely to cap U.S. interest rates for longer and weaken the dollar, lifting the debt and currencies of developing nations as they struggle to finance efforts to contain the worst of the Covid-19 pandemic.Gauges of developing-nation stocks and currencies reached the highest levels in more than two years on Friday, after getting whipsawed last month by uncertainty over the U.S. election outcome. Local bonds had their best weekly performance since April in the five days through Friday. The Mexican peso and offshore yuan surged on the prospect of reduced trade tensions.“A Biden presidency with a Republican Senate is likely the best possible scenario for emerging-market assets and if this outcome holds it should provide a very strong backdrop for the asset class,” said Eric Stein, chief investment officer of fixed income at Eaton Vance in Boston. “Biden should have a less confrontational approach to China and other countries than Trump.”Asia’s markets will likely outperform emerging peers as the region’s control of the coronavirus pandemic helps economies recover faster than in other parts of the world where strict lockdowns are returning. China’s October exports unexpectedly accelerated and inflation and credit reports due this week will likely signal stable underlying demand.“The flows data over the past few months suggest that investors’ purchases of EM assets have been heavily biased towards a handful of Asian countries,” said Nick Stadtmiller, a strategist at Medley Global Advisors in New York. “Asian economies are expected to grow faster than other emerging-market peers in the coming year, and that growth differential has been supportive of Asian markets.”Still, there are some fragile spots to be worried about. Turkey remains on top of traders’ watchlist after President Recep Tayyip Erdogan fired the country’s central bank governor as a series of interest rate increases failed to halt the lira’s slide to a record low. Zambia could become Africa’s first sovereign defaulter since the onset of the pandemic, if investors reject on Friday a request to defer interest payments on its $3 billion worth of Eurobonds until April.In Latin America, Mexico and Peru will decide on interest rates, while an International Monetary Fund mission will arrive in Argentina to negotiate with authorities on a new program.Turkey’s SurpriseThe lira, the worst performing emerging-market currency of 2020, will likely remain volatile after Erdogan appointed former Finance Minister Naci Agbal to replace Murat Uysal as central bank governorThe move is unlikely to alter the current trends of inflation, reserves and the lira -- if they are not followed by significant changes in policy, according to Goldman Sachs Group Inc.“Only future monetary policy actions will show if the new appointment once again implies a change in policy and, if so, in which direction,” economists Murat Unur and Clemens Grafe wrote in a reportThis may be evident by the Monetary Policy Committee’s next scheduled meeting on Nov. 19Mexico, Peru to DecideMexico’s central bank will meet on Thursday and while many expect officials to leave the key rate flat, Bloomberg Economics is bracing for a quarter-point cut to 4%Inflation figures for October, meantime, probably ticked higher from a month earlier. September industrial production, out on Wednesday, is expected to flag a recovery from earlier this year while remaining below pre-pandemic levelsThe peso was among the top performers in developing markets last weekIn Peru, policy makers are expected to keep interest rates at 0.25% on Thursday and repeat their plans to keep conditions expansionary, according to Bloomberg EconomicsCongress will vote on a motion to impeach President Martin Vizcarra on Monday. Most investors expect the motion to fail just like last month’s attempt, but political uncertainty held back the Peruvian sol last weekData and EventsChina will announce CPI and PPI data on Tuesday. CPI probably slowed to 0.8% in October from 1.7% the previous month, according to a Bloomberg survey. China’s economy has been recovering from the pandemic but household spending may still be relatively weakChina’s local bonds have returned 6.6% this year in dollar terms, according to a Bloomberg Barclays index, while the onshore yuan has gained more than 5%China may also report on aggregate financing this week, which will reveal how much credit is supporting the economyThe Philippines will report third-quarter GDP on Tuesday, and Malaysia will announce the same data on FridayBoth nations are expected to say their economic contraction slowed in the period even as virus cases continued to take a tollThe Philippine peso is the best-performing Asian currency outside China this year, while the Malaysian ringgit has weakenedTaiwan will release October trade data on Monday. A recovery in exports and rising demand for technology products has seen the Taiwan dollar gain more than 4% this yearIndia will report CPI figures on Thursday. Accelerating inflation has kept the Reserve Bank of India on hold since it cut interest rates in May. CPI for October is estimated at 7.1%, still above the RBI’s target range of 2% to 6%. India is also scheduled to report trade statistics this weekIndia’s local bonds are one of the best performers in Asia this year, even as the rupee trails all of its regional peersMyanmar started counting millions of votes cast Sunday in the country’s second election since military rule ended in 2011, with de facto leader Aung San Suu Kyi and her ruling National League for Democracy expected to win another termThe nation’s kyat has climbed about 11% against the dollar this year, according to data compiled by BloombergIn Brazil, retail sales data for September, to be released on Wednesday, will be watched for signs of how lower emergency aid transfers effected consumer habits. A reading of economic activity for the same month will probably show a fifth monthly increase, according to economists surveyed by BloombergInvestors will watch for signs of more orthodox economic measures from Argentina as it tries to shore up investor confidence and lure capital back into the country after failing to stem a run on its currency with heavy-handed restrictionsAn IMF mission will arrive in Buenos Aires on TuesdayA reading of October inflation will probably show a pickupColombia will release September retail sales and industrial production data on Wednesday, which may offer clues on the pace of recoveryThe nation’s central bank last week improved its 2020 growth forecast saying the recovery in the third quarter was faster than expectedThe Colombian peso was one of the best performers in emerging markets last weekFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Walt Disney, McDonald’s, Beyond Meat, DraftKings, Softbank, DraftKings, and more companies report third-quarter results. Plus, October jobs numbers, a FOMC meeting, and election day.
Every week, Benzinga conducts a sentiment survey to understand what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We recently surveyed a group of over 250 traders and investors on whether shares of Apple Inc. (NASDAQ: AAPL) or Microsoft Corp. (NASDAQ: MSFT) stock would grow the most by 2025.Apple Vs. Microsoft Stock Over the next five years, which stock will have the largest percentage gain? * Apple * Microsoft62.5% of traders and investors believe shares of Apple will grow the most by 2025. The future is now for Apple's latest smartphone market entry: Our Benzinga team recently reported Apple's unveiling of its family of iPhone 12 models, which are the first to be compatible with 5G mobile networks. Earlier, we reported how much investing 00 in Apple the day the first iPhone was revealed would be worth today.Apple trades at $118.52 per share as of publishing.Our survey found 37.5% of respondents saying Microsoft would grow the most in the next 5 years. Pointing to a major step toward improving Microsoft's landscape of SaaS offerings for 2020 and beyond, on Sept. 22 we reported the company had launched Azure Communications Services, composed of cloud-based voice and video calling, chat, and telephony features. Microsoft trades at $223.40 per share.This survey was conducted by Benzinga in November 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 250 adults.See more from Benzinga * Click here for options trades from Benzinga * Which Bank Stock Will Grow The Most By 2025? * Which Fintech Payment Stock Will Grow The Most By 2025?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Nutrien Ltd. recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.
Here are 18 tips on how to make the right financial choices during a tough recovery.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
After days on tenterhooks, investors now have clarity about the next occupant of the White House and will start planning for the presidency of Joe Biden.
* This weekend's Barron's examines how Biden won an extraordinary election and what a Biden administration could mean. * Other featured articles discuss how to position a portfolio for political gridlock, the outlook for big tech and dividends that are being resumed. * Also, the prospects for a private equity firm, a leading biotech, timeshare companies and more.In this week's Barron's, Avi Salzman points to the positives of a divided government in his article "Biden Wins the Most Extraordinary Election of Our Time. What's Next." He says the division can bring about a measured pace of change, which typically is a good thing for investors. What may be next for the likes of Pfizer Inc. (NYSE: PFE) and Walmart Inc. (NYSE: WMT)?In "What a Biden Presidency Means," Salzman also talks about what the election outcome means for the economy and for stocks, including NextEra Energy Inc. (NASDAQ: NEE)In "How to Position Your Portfolio for Uncertainty and Gridlock," Reshma Kapadia makes the case that the best approach may be a portfolio that doesn't pick sides (growth or value) and includes a small buffer for the unexpected. See if Barron's believes Amazon.com Inc. (NYSE: AMZN) has a place in that portfolio.Apollo Global Management Inc. (NYSE: APO) stock looks attractive, even as the private equity firm reviews the conduct of its co-founder and CEO, and some investors bolt. So says Andrew Bary in his piece "Apollo Could Thrive With or Without CEO Leon Black. What's at Stake for Investors." How does the asset manager thrive without Leon Black?In Lawrence C. Strauss's "Here's a Timeshare Pitch That's Worth a Listen," learn why Barron's believes that Marriott Vacations Worldwide Corp. (NYSE: VAC) trades at a premium to peers, but it has a good footing in a corner of the travel market that is proving resilient despite the pandemic: the timeshare business."Biogen's Alzheimer's Drug Inches Closer to Approval. That Doesn't Make the Stock a Buy," by Ben Levisohn examines why Biogen Inc. (NASDAQ: BIIB) stock jumped 47% after the FDA released documents showing that the agency leaned toward approving the company's Alzheimer's drug aducanumab.See also: Wall Street Glad To Be Free Of Trump's Tweets Following Biden WinThe fight over how drivers for Uber Technologies Inc. (NYSE: UBER) and others should be classified appears likely to rage on, according to Eric J. Savitz's "Gig-Worker Companies Win in California but May Face Battles Elsewhere." Plus, another new law that could have a big effect on Alphabet Inc. (NASDAQ: GOOGL) and other tech giants.In "Gold? No Thanks. Investors' New Favorite Safe Haven Is Tech Stocks," Alex Eule points out that at this tumultuous time, investors are finding a haven not in gold but rather in the likes of Facebook Inc. (NASDAQ: FB), Microsoft Corporation (NASDAQ: MSFT) and other pricey tech shares. See why.Lawrence C. Strauss's "Dividend Stocks Begin to Resume Payouts After Pandemic Pause" indicates that some companies that halted their payouts due to the pandemic have since restored them, albeit at lower levels in some instances. Marathon Oil Corporation (NYSE: MRO) is one of those companies.Also in this week's Barron's: * Startups developing psychedelic drugs for psychiatric illnesses * Whether divided government will push the Federal Reserve to go bigger * Whether prime money-market funds could disappear * How Bidenomics can unite a divided nation * The ongoing merger mania among asset managers * Whether gold will be one of the winners in the election * How younger traders are embracing the familiar * Whether the expansion is self-sustaining without stimulus * COVID-19 infections top 100,000 again * How to tell if a 401(k) is too conservative or aggressive * Whether U.S. tourism to Caribbean Islands is set to return * Estate taxes and planning moves to make now * At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Last Week's Notable Insider Buys: Cboe, IBM, Xerox And More * Benzinga's Bulls And Bears Of The Week: Apple, Toyota, Verizon And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
By a vote of one for, eight against, and two abstaining, the U.S. Food and Drug Administration's (FDA) Peripheral and Central Nervous System Drugs Advisory Committee concluded Friday that positive clinical data from Biogen's (BIIB) "EMERGE" trial, when "viewed independently and without regard for" data from the company's "ENGAGE" trial, were not sufficient to convince it that aducanumab is an effective treatment for Alzheimer's.The Advisory Committee furthermore voted zero to seven (with four abstentions) against a finding that Biogen's PRIME study data was any better. And although on the bright side, the committee voted five-to-zero-to-six sort of in favor of the verdict that Biogen has "presented strong evidence of a pharmacodynamic effect of aducanumab on Alzheimer’s disease pathophysiology," in the end, they concluded by a crushing zero-to-10 margin (with one abstention) that it was not reasonable to rely upon the EMERGE data as a reason to approve the drug for commercial sale.That's the bad news.The good news is that the Advisory Committee's recommendations above are not binding on the FDA itself, and the FDA could, therefore, end up approving the drug anyway. (The FDA intends to render its own final verdict by March 7, 2021).But the other bad news is that, when you get right down to it, the Advisory Committee's conclusions were "overwhelmingly negative," as J.P. Morgan analyst Cory Kasimov opined in a note out today. Tallying up the results, points out Kasimov, Biogen garnered a grand total of just "one yet vote across the three key efficacy questions." And this, in the analyst's opinion, "certainly calls into serious question the FDA's very positive stance on aducanumab."Calling the Advisory Committee's verdicts a "near unanimous vote against aducanumab and strong commentary against the FDA's own analyses," Kasimov warns that "with the FDA's reputation already in a precarious position, it could be difficult -- maybe impossible -- to go against an expert panel at this time no matter how badly they want this."Which kind of makes the March 7 decision sound like a foregone conclusion, and not one that favors Biogen.So what does this mean for Biogen and the investors who've placed their faith in it? On the one hand, the aducanumab polls were unqualifiedly bad for Biogen. Still, they apparently weren't quite bad enough to shake JP Morgan's faith in the company so as to necessitate downgrading the stock from "neutral" (the stock's current rating) to "sell." Nor did Kasimov cut his price target on the stock from its present level of $269 per share.That being said, when you consider that Biogen stock costs nearly $329 a share today, Kasimov's $269 price target does still imply that Biogen stock is worth nearly 19% less than what investors are currently paying for it. (To watch Kasimov's track record, click here)This stock has attracted plenty of interest from Wall Street’s analysts. BIIB’s analyst consensus rating is a Moderate Buy based on 27 reviews, which include 11 Buys against 14 Holds and 2 Sells. (See BIIB stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
U.S. stock-index futures Sunday evening were rising sharply as investors took early positions after former Vice President Joe Biden was projected on Saturday as the winner of a hard-fought presidential contest by a number of news organizations. Although votes remain to be counted and lawsuits from the incumbent Donald Trump administration have been filed over some ballot counting, investors are bracing for a new regime under the incoming 46th president of the U.S. Futures for the Dow Jones Industrial Average were trading up 315 points, or 1.1%, at 28,519, those for the S&P 500 index were advancing 1.1% at 3,539, while Nasdaq-100 futures were trading 1.3% higher at 12,230. Since Election Day on Nov. 3, investors have appeared upbeat around the prospect of a leader seen as a centrist in the White House, and the fact that Congress will likely be divided, with neither the Republicans nor the Democrats maintaining a significant majority in either the Senate--a setup that is often viewed as good in the long term for investors because it means few major changes can be imposed, including tighter corporate regulations, and higher taxes. Investors do, however, expect a stimulus package to be enacted to help combat the negative effects of the COVID-19 pandemic, even if that relief package isn't as robust as had been hoped for. On Friday, The Dow fell 66.78 points, or 0.2%, to close at 28,323.40, while the S&P 500 lost 1.01 point, closing at 3,509.44. The Nasdaq Composite rose 4.30 points, less than 0.1%, to finish at 11,895.23. The S&P 500 ended that week up 7.3% and the Nasdaq jumped 9%. The Dow posted a weekly gain of 6.9%.
Here are tips if a case before the Supreme Court on Tuesday kills the health care law.
Biden won't raise taxes for anyone earning less than $400,000. His plan calls for corporations and the wealthy to pay more.
Wall Street this week is set to consider the implications of President-elect Joe Biden's incoming administration, alongside another batch of corporate earnings results.
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