Cling-On. The theme for the rest of 2020…Currently, we are clinging onto these last 2 weeks. Two weeks of high drama, unrealistic fiscal demands, and what some might call, brinkmanship. Also, possibly the ugliest election to ever grace the United States, with the last debate coming Thursday (can’t be any worse than the last….omg, can it?!). Mr. Murdoch has apparently already made up his mind on the outcome, but two weeks is a political eternity. We are also clinging on to the words of Nancy Pelosi, who gave a Tuesday deadline for stimulus agreement to the White House this past weekend. Previously, the mere mention of the word stimulus had upside potential. Not today, though. Investors are feeling numb to the stim stalemate today as the start of the week has proven lacklustre, at best. Nasdaq’s usual rip-roaring Monday is MIA with tech dragging (AAPL -0.3%, Amazon -1.1%). Further, despite plenty of talk over the weekend that the Astrazeneca/Oxford vaccine could be rolled out to the most vulnerable shortly after Christmas, the Pharma sector isn’t feeling much thrill, down -1.3%. Over the next 2 weeks we can expect to cling on to hope, as well as quite a bit of volatility.
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