The stock market is sending signals that a Biden-led blue wave is getting less certain, says one Wall Street strategist


  • While the polls suggest a blue wave victory is in reach for Democrats this November, the stock market isn’t so sure, according to a note from Evercore ISI.
  • Wall Street strategists have been forecasting that a blue wave would likely be positive for stocks on hopes of a large stimulus deal shortly after the election, which would help spur a surge in value and cyclical stocks.
  • But this week’s rotation out of value and into tech suggests that chances of a blue wave in November are less likely, according to the note.
  • Visit Business Insider’s homepage for more stories.

Wall Street is increasingly expecting a blue wave victory for Democrats this November after the polls close, which would likely lead to the reflation trade: a surge in cyclical and value stocks at the expense of technology and growth stocks.

But recent trading activity in the stock market suggests

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Loop Industries Drops – Hindenburg Makes Claims, Shorts Stock

Shares of Loop Industries  (LOOP) – Get Report lost a third of their market value on Tuesday after the activist investment group Hindenburg published a report lambasting the plastics-recycling company and said it took a short position.

The investment firm said it interviewed former employees, competitors, industry experts and company partners as part of its investigation and concluded that Loop is “smoke and mirrors with no viable technology.”

Loop, Terrebonne, Quebec, didn’t immediately return a request for comment. 

Former employees told Hindenburg that Loop operated two labs, one reserved for its “two twenty-something lead scientist brothers and their father” and one run by rank-and-file scientists who were unable to replicate results. 

The investment firm said that a Loop employee told Hindenburg that scientists were pressured by Chief Executive Daniel Solomita to “lie about the results of the company’s process internally. We have obtained internal documents and photographs to

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Citigroup Stock, JPMorgan Gain on Earnings, Apple Amazon Rise. Dow Still Falls.

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Stock indexes were modestly lower Tuesday after a big Monday for technology shares. There was some bad news on the Covid-19 vaccine front and little progress toward a fiscal stimulus bill in Washington, but most of Tuesday’s action was on the individual stock level, as third-quarter earnings season kicks off.

On Tuesday morning, the

Dow Jones Industrial Average

fell 110 points, or 0.4%, the

S&P 500

also dipped 0.4%, and the

Nasdaq Composite

ticked down less than 0.1%.

It was a contrast to Monday, when stocks jumped on little news during a light Columbus Day holiday and the technology-heavy Nasdaq rallied 2.6% to its third-highest close in history.

Contributing to the lackluster trading on Tuesday was an announcement from

Johnson & Johnson

(ticker: JNJ) on Monday night that it paused its trial of a coronavirus vaccine after an unexplained illness in a trial participant.

It isn’t uncommon for

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Analyst Says Micron Technology Stock Now Has 20% Upside

Are Micron Technology (NASDAQ: MU) shares about to rise by nearly 20%? Analyst Sidney Ho of Deutsche Bank thinks so; he upgraded his recommendation on the stock from neutral to buy, with a $60 per share price target (the company’s most recent closing level was $50.68).

Ho believes that while the market for the DRAM, or dynamic random access memory, chips that the company specializes in will hit a low in the fourth quarter of this year, a rebound is in store. In his view, recent data indicate that demand for such products has risen in both the mobile and PC server segments. This should result in price increases in Q1 of next year.

Detail of a circuit board.

Image source: Getty Images.

Micron’s business has suffered lately because of two factors. The first is the coronavirus pandemic. As with other businesses throughout the global economy, the company has been badly affected by softening demand

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S&P 500 Gains 57 Points Ahead of Earnings, Huge Apple and Amazon Events, Ford Stock Gets an Upgrade

The S&P 500 Index (SNPINDEX: ^GSPC) gained nearly 1.7% on Oct. 12, a huge day for the index that makes up some 80% of the entire U.S. stock market’s value. With the exception of materials, every sector closed higher today, but tech did the heavy lifting. The Technology Select Sector SPDR ETF gained 3%. Apple (NASDAQ: AAPL) gained 6.2% today, while Amazon.com (NASDAQ: AMZN) closed up 4.5% and Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) and Facebook (NASDAQ: FB), picked up 4%. Combined, that’s $7.4 trillion in market cap gaining more than 4.5% on average.

Why the big day? A combination of factors, including Wall Street analyst upgrades, optimism that Congress could reach a deal on stimulus, and high hopes as earnings season gets under way — not to mention a couple of big events coming up for Apple and Amazon. Shares of auto giant Ford (NYSE: F) joined Apple in

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Stock Market Today With Jim Cramer: Apple Event Is Tuesday

Stocks rose Monday as investors remained hopeful of further fiscal stimulus and prepared for quarterly earnings reports from the biggest banks in the United States.

Technology shares such as Apple  (AAPL) – Get Report, which rose ahead of its expected iPhone 12 unveiling Tuesday, and Amazon  (AMZN) – Get Report, which gained ahead of the start of its Prime Day event, were the standouts.

TheStreet’s Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about his expectations from Prime Day, why stocks popular on Robinhood matter and what to expect from Apple’s iPhone event tomorrow.

Amazon Prime Day

Amazon’s shopping extravaganza starts at midnight on Oct. 13. The company says that more than a million deals will be offered in 19 countries during the event.

Cramer said he hopes Amazon will have a better product line up for Prime

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New Stock Coming October 13, When And Where

PS5 and Xbox Series X pre-orders are a white whale these days: they sold out within moments of going live on their respective pre-order dates, and PS5 did so again when GameStop got a restock. Since then things have been pretty quiet as we move towards the November 10 and November 12 release date, when we expect to get some more stock in physical and digital retailers. One retailer, however, says that it’s going to have more stock tomorrow, October 13.

Earlier today, I got an email from antonline, which says that it will have new PS5 and Xbox Series X pre-order stock at 2:00 PM, so head on over to the store to see if you can snag one. The catch is that it seems to be offering bundles from $559-$779.95, so you won’t be buying a standalone console. An extra controller or

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Dow Jones Surges 300 Points as Apple iPhone Event Approaches, Cisco Stock Shakes Off Downgrade

A winter wave of COVID-19 may be brewing in the U.S., with many states reporting distinct increases in confirmed cases. More economic stimulus may be necessary if the pandemic worsens from here, but Congress remains deadlocked on the issue. Despite all of this, the stock market was surging on Monday, with the Dow Jones Industrial Average (DJINDICES:^DJI) up 1.05% at 1:05 p.m. EDT.

Tech giant Apple (NASDAQ:AAPL) was the Dow’s top performer on Monday, rallying hard one day before the company is expected to announce iPhones that feature 5G technology. Shares of Cisco Systems (NASDAQ:CSCO) were also higher despite an analyst downgrade.

5G text over earth.

Image source: Getty Images.

Apple surges ahead of iPhone event

If 2020 were a normal year, Apple’s latest iPhones would have likely already launched. But supply chain disruptions due to the COVID-19 pandemic forced Apple to delay the launch by a few weeks. At an event in September,

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Is Major Cineplex Group A Good Stock To Buy?

Major Cineplex Group PCL (OTC:MCGRF) is a leading cinema operator in Thailand with 815 screens in Thailand and neighboring countries. It has a considerable contribution to the growth of Thai box office. The company has a strong growth and upside potential, according to a thesis by AsianCenturyStocks.

Assuming a full recovery in cinema attendance by 2022, the stock will trade at a 2023e PE ratio of 10.3x, offering upside of +85% if the stock were to trade at its historical average PE ratio of 19x. This multiple is well justified given the long runway of growth, limited debt, excellent management team and high return on capital, according to the thesis.

theater, theatre, stand, worker, food, counter, concession, cold, bar, retail, movie, business, snack, drink, cinema, adult, tub, cap, occupation, service, caucasian, female
theater, theatre, stand, worker, food, counter, concession, cold, bar, retail, movie, business, snack, drink, cinema, adult, tub, cap, occupation, service, caucasian, female

Tyler Olson/Shutterstock.com

At a point where European and North American box offices are struggling with their revenue statistics,

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Warren Buffett bought Microsoft stock after meeting Bill Gates and made a $37 billion acquisition thanks to a chance encounter. Here are his 10 best quotes from an interview in a new book.



Warren Buffett wearing a suit and tie: Warren Buffett, co-chair of the 10,000 Small Businesses Advisory Council, takes part in a panel discussion following a news conference announcing a $20 million partnership to bring Goldman Sachs' 10,000 Small Businesses initiative to the city of Detroit, Michigan, November 26, 2013. REUTERS/Rebecca Cook


© REUTERS/Rebecca Cook
Warren Buffett, co-chair of the 10,000 Small Businesses Advisory Council, takes part in a panel discussion following a news conference announcing a $20 million partnership to bring Goldman Sachs’ 10,000 Small Businesses initiative to the city of Detroit, Michigan, November 26, 2013. REUTERS/Rebecca Cook

  • Warren Buffett gave investing advice to Bob Woodward, purchased Microsoft stock after meeting Bill Gates, and struck a $37 billion deal thanks to a chance meeting, he told David Rubenstein in “How to Lead: Wisdom from the World’s Greatest CEOs, Founders, and Game Changers.”
  • The famed investor and Berkshire Hathaway CEO also touched on railroads, his annual shareholder letters, his retirement plans, and his company’s future in the interview with the co-executive chairman of The Carlyle Group.
  • Scroll down to read Buffett’s 10 best quotes from the discussion.
  • Visit Business Insider’s homepage for more stories.

Warren Buffett gave investing advice to investigative journalist

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