Stocks Surge After Bernie Ends Presidential Campaign
“U.S. equity markets rallied to session highs Wednesday after Sen. Bernie Sanders announced he was suspending his presidential campaign,” reports Fox Business.
“The Dow Jones Industrial Average gained 593 points, or 2.62 percent, ahead of the noon hour while the S&P 500 and Nasdaq Composite rose 2.4 percent and 2.04 percent, respectively. The gains have lifted the S&P 500 out of its bear market, which would officially end with the index closing above 2,684.88.”
The potential reopening of the economy is not the only fresh prospect easing stock market tensions. Now that the “Bernie Revolution” has officially halted, stocks are surging upwards as investors warm to the fact that a socialist will not be occupying the White House next February.
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On Wednesday, Sen. Bernie Sanders (I-VT) suspended his presidential campaign after former Vice President Joe Biden rebounded from a losing position to overtake him in the primary. Shortly thereafter, his exit from the race yielded positive dividends in the stock market as the Dow gained 700 points.
Ed Mills, Washington policy strategist at Raymond James, told CNBC that Sanders’ exit has eased tensions over the economic fallout from some of his policy proposals.
“Sanders’ exit removes the tail risk of some of his policies, immediately sets up focus on Biden vs. Trump,” said Mills. “Biden’s policies will get a new scrutiny now [that]he is the presumptive nominee, but the truth of the matter is that the market will be looking towards Washington more to help the economy and much of the assistance matches his platform.” More
That’s actually hilarious, just the comfort in knowing a socialist won’t be president makes stocks surge! The only people who benefit from socialism are the ones who implement it. All those people waiting for free stuff, are now going to have to get it the old fashioned way, by working for it.