Global Stocks Subdued in Final Attempt to Yield Stimulus Deal
Global stock markets are subdued this morning even though a number of reports indicate strong earnings results for the quarter. The culprit? Concerns that Democrats and Republicans will fail to deliver more U.S. economic aid before Nov. 3.
Talks on a massive COVID-19 relief package experienced a setback when U.S. President Donald Trump’s most powerful Senate ally, Senate Majority Leader Mitch McConnell, urged the White House not to continue.
I don’t like the way that sounds…
Other lawmakers warn there’s not enough time to pass a relief bill by election day, but House Speaker Nancy Pelosi said negotiations with Treasury Secretary Steven Mnunchin have been positive.
In today’s video, I have more on whether the stock market is fragmented or stable… which sectors are speculative and which are defensive… whether volatility levels are stable or dangerous… and the worst biotech stocks — you’re going to want to sell them now.
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