What would a Biden win mean for the markets? Strategists from Citigroup to JP Morgan Chase share their views on the prospect. Investors also wonder how a stimulus package delay will affect Wall Street. Forbes advisor Taylor Tepper responds to the question. If you’ve thought about refinancing a mortgage, this may the the time to do it. Diana Olick of CNBC reports on the new rates.
A Clear-Cut Biden Win Is Emerging As A Bull Case For Stocks — With Joe Biden’s lead widening in the polls, investment strategists now say there’s less of a chance for a contested election. A clear-cut Democrat victory could avoid a long and messy legal battle and provide certainty to markets that have been nervous about election risks, according to strategists from Citigroup Inc. to JPMorgan Chase & Co. Read more…
What Happens If There Is No Second Stimulus Package? — The effects on the market may be more visible below the surface than on the surface, with ongoing sector rotation toward the work-from-home stocks—Facebook, Apple, Amazon, Netflix, Google—at the expense of the re-open stocks—cyclicals, value and small caps. Read more…
Mortgage Rates Set Another Record Low, Sparking New Strength In Refinances — Mortgage rates moved even lower last week after setting multiple record lows in recent months, spurring more borrowers to call their lenders and apply for a refinance, but homebuyers were not quite as motivated. Refinance application volume rose 8% for the week and was 50% higher than a year ago. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller