More free money!!!
That's what investors are hoping for this afternoon as the Fed winds up their 2-day meeting and we'll have their rate decision at 2pm. It's up to the Fed to save Christmas as we don't even have a President yet, with Joe Biden leading Donald Trump 253 Electoral Votes to 214. You need 270 to win and Biden seems to have Arizona (11) locked up but only an 8,000-vote lead in Nevada (6) and Biden is 18,000 votes benind in Georgia (16), 77,000 behind in North Carolina (15) and 164,000 behind in Pennsylvania (20). So Biden can win any two states to win and Trump is in big trouble, basically.
Especially as late voting, which is either mail-in voting or big city voting, strongly favors Joe Biden. This is why Trump supporters are protesting to "stop the count" around the country. Having every vote counted is something Democracies do – this is America!
We've had a spectacular 260-point (8%) move in the past 5 days on the S&P 500. A 10% run would have taken us to the 25% line at