Stocks in strongest two-day upswing since Brexit

Posted in Google Brexit News
at 2016.11.09
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Stocks in strongest two-day upswing since Brexit


>> Wall Street seeing its biggest two-day rally since the rebound from the Brexit debacle back in June.>> I’m Conway Gittens in New York. The Dow is in rally mode. Blue chips now winning back all of the losses suffered during that nine day sell-off, which was Wall Street’s longest losing streak since the 1980s.


The broader market, not too far behind.>> A tepid start to the trading day Tuesday, giving way to some volatility as traders watch incoming data on one of the most contentious battles for the White House ever. Real time tracking firm VoteCastr favoring Hillary Clinton, according to their compilation of early voting and exit polls.


But this is the first time VoteCastr’s been used by media companies as a predictor, and its data, as with any early polling, should be looked at with a skeptical eye. One only has to look back to Britain’s decision to leave the European Union back in June, a vote that caught most by surprise given the polls leading up to the vote signalled Britain would vote against Brexit.


A Clinton win is overly favored by Wall Street. She is seen as a cool and steady hand. While Trump is seen as erratic and a wild card. Some market watchers say a Clinton win would please the market, sending it up between 3 to 5% but a Trump surprise could cause a stock market slump of about 10%.

Published at Wed, 09 Nov 2016 00:57:00 +0000

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