Three Things We Know Now About the Election

Plunging bond yields suggest a flight to safety (and a lack of confidence in deficit-boosting stimulus spending) while seesawing stocks r...

Plunging bond yields suggest a flight to safety (and a lack of confidence in deficit-boosting stimulus spending) while seesawing stocks reveal widespread anxiety. S&P 500 futures moved between gains and losses nearly 10 times in the 12 hours leading to 6 a.m. Eastern. And in a sign of the times, shares of tech giants like Amazon, Apple and Microsoft are among the biggest gainers in premarket trading, serving as havens for investors looking for a place to park their money. (Divided government also “lowers some of the chances for those antitrust concerns we had with big-cap tech literally two days ago,” Mr. Detrick added.)

3. Companies face engaged but divided employees, customers and stakeholders

Whatever the election’s outcome, it’s clear that the country is more politically engaged than it has been in a while. Turnout is historically high, with early voting in several states exceeding 2016 totals. But ticket-splitting appears to be a thing of the past, with voters opting for candidates strictly along party lines. For companies that increasingly take on political and social issues in addition to seeking profits, this is a double-edged sword.

“The genie is out of the bottle” on corporate civic participation, said Susan McPherson, founder of McPherson Strategies, describing herself as “thrilled” with the turnout. But it won’t be easy to make everyone happy in such a hyperpartisan atmosphere, said Bryan Sanchez of Lionstone Investments: “My hope is that this is a low point in our country’s unity and that we can rebuild from here whatever happens.”

For all the latest election news, follow our live updates, forecasts and rundown of the results so far.

A clearer picture of immunity to Covid-19 is emerging. A new study conducted in Britain found that cellular immunity to the coronavirus is likely to be present at least six months after infection. That suggests people may be able to fight off the virus even after antibodies fade. (The study has yet to be peer-reviewed.)

A top strategist at JPMorgan Chase accuses his colleagues of political bias. In an internal chat, Marko Kolanovic, the bank’s global head of macro quantitative and derivatives strategy, said the banks analysts based forecasts on “party preference” and called it a “joke.” The trading floor fell silent after his remarks, Bloomberg reported.

BMW’s profit surges on huge demand in China. The carmaker said its third-quarter earnings rose nearly 10 percent, thanks largely to a 31 percent jump in Chinese sales, which helped offset a 16 percent slump in U.S. sales.

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Newsrust - US Top News: Three Things We Know Now About the Election
Three Things We Know Now About the Election
Newsrust - US Top News
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