After many weeks of telegraphing a long and careful ballot count, this week’s election lived up to that prediction in races for the Senate, the House, and the presidency. While Americans voted Tuesday, Wall Street cast its ballot Wednesday.
The S&P 500 rose 2.2% on Wednesday, November 4, as it appeared a divided government would be the outcome of election 2020. The Nasdaq, which has led all year, picked up 3.9%.1
While one might assume that having one party control the White House and both houses of Congress is the best situation for Wall Street, in practice, this isn’t the case. Since 1937, the S&P index (in its various iterations) has shown a 14.6% return after elections, resulting in a divided government. This compares to a 13% return in election years where one party took the presidency, House, and Senate.
Elections mean new leaders throughout the government and new policies that may be pursued. If you have concerns about these changes, give us a call at Epic Capital today. If you’ve been following our Epic Market Minute videos, our video today is on the volatility we are seeing as the Market Looks Past the Election and sets its sights on the Fed, a vaccine, as well as stimulus.
As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.
When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult.
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As the United States sees a rise in cases of COVID-19 across the nation, news of two promising vaccines out of hundreds being tested has offered a ray of hope for a fatigued world.1
With the Federal Reserve keeping interest rates at or near zero, you may wonder about your mortgage. Is it a good time to refinance or even pay off the debt entirely? After all, your mortgage is one of the biggest expenses you may have in life, so why not rid yourself of that debt as … Continue reading “Interest Rates and Your Mortgage”
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