Claim of the Day

Here's the claim of the day: Wall Street Opens Higher as Faith in Stimulus Persists; Dow up 130 Pts

Reality

No one really has any  idea on most days why the market does this or that.

It's likely the market and gold are both higher not because of any deal between House Speaker Nancy Pelosi and president Trump, but for something not so obvious.

If the market falters this afternoon there will be another reason perhaps the opposite: Market down as stimulus hopes fade.

What About the Election?

It's entirely possible the market the market lately has been pricing in a Biden victory and is happy about it.

After all, some 3,500 corporations will be happy to get rid of Trump tariffs that have totally backfired.

For discussion, please see 3,500 Corporations So Fed Up With Trump's Tariffs They Sue the US

Is that the reason? 

I don't know, but it is as least as good a reason as reasons provided in headlines every day.

The market can go up or down for many reasons or no reason at all. 

But looking ahead, a Biden victory coupled with increased deficits rates to be good for gold.

Mish

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