“US stocks tumbled on Wednesday, ending sharply in the red,” said left-of-center CNN Business. “Investors worried about rising Covid-19 infection in parts of the country, quarantine requirements for intra-US travel and newly proposed tariffs on EU imports.”
CNN Business also said, “The three major stock indexes recorded their worst performance in nearly two weeks.
- The Dow ended 2.7%, or 710 points, lower. Not a single Dow stock ended in the green.
- The S&P 500 closed down 2.6%.
- The Nasdaq Composite fell 2.2%, just one day after logging a record closing high and its longest winning streak since December.”
Another left-of-center source, CNBC, will be our focus this evening. They’re reporting that several Wall Street analysts have issued warnings to their investors that a “a Biden presidency will not be good for the stock market.”
The featured focus is found after the left-right news headline recap, after two of our three market snapshots, and today’s quotable quotes. Newcomers note: the manufactured housing connected stocks at the closing bell follow the featured focus and related reports segments of each nightly report.
Quotes That Shed Light – American Social, Industry, National Issues…
Headlines from left-of-center CNN Business
- Trump is trapped
- A face mask is seen in front of the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. – Global stock markets climbed Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. Over the weekend, US President Donald Trump imposed travel limits on Brazil, now the second worst affected country after the United States, reminding markets that while the coronavirus outlook is better, the crisis is far from over.
- Trump’s latest moves aren’t exactly a winning economic — or reelection — strategy
- US considers new tariffs on $3.1 billion of European goods
- LIVE UPDATES Dow tumbles as coronavirus and tariffs rattle investors
- Opinion: Yes, we’re in a recession. But the stock market’s rally still makes perfect sense
- INTERACTIVE Covid-19 has disrupted every aspect of life. Track the changes and recovery here
- The recession is much worse than the IMF expected
- Woke funds are having a moment as Millennials invest more
- GNC files for bankruptcy and will close up to 1,200 stores
- Olympus is getting out of the camera business
- World’s most valuable liquor company claims another first
- NEW YORK, NY – APRIL 30: People walk in front of a McDonald’s at Times Square on April 30, 2020 in New York City. McDonald’s reported that first quarter earnings plummeted 17 percent because of restaurant closures worldwide due to the coronavirus COVID-19 pandemic.
- McDonald’s is closing its iconic Times Square location
- In this Saturday, June 30, 2012, photo, Crossfit enthusiast Aaron Miner does front squats as they show their support for prisoner of war Beau Bergdahl at the Boise Bring Bowe Home Workout of the Day at Expo Idaho in Boise, Idaho. “All over the world people are doing the same workout” said organizer Angie Baldwin, who is also a veteran. Saturday marked the third anniversary of Bergdahl’s capture.
- CrossFit founder is selling the company
- Arsenic found in Whole Foods’ bottled water
Headlines from right-of-center Fox Business
- PAY DELAYED
- Trump wants to send Americans another check, but he could face a serious challenge
- The US reported 34,700 new cases of the virus on Tuesday as cases surged in several states that reopened earlier from lockdowns.
- Stocks drop like a stone as coronavirus cases spikes, and experts fear a global recession
- SOCIAL MEDIA
- Conservatives push alternative social media after Twitter flags Trump posts
- Trump campaign weighs alternatives to big social platforms
- WATCH: Cuomo keeping gyms, malls closed is ‘kick in the teeth,’ councilman says
- Mystery ‘John Doe’ in Epstein-linked legal battle seeks identity protection
- How Trump could turbocharge the economy with radical tax cuts – thanks to the Supreme Court
- PULLING POSTS
- SOCIAL MEDIA
- Another brand drops Facebook ads as protest against platform grows
- FBN INVESTIGATES
- These smaller banks beating Wall Street giants in PPP loan rush
- ‘EMOTIONAL FEW DAYS’
- Bubba Wallace praises NASCAR, FBI for treating noose in garage as a real threat
- CHANGING HANDS
- BUSINESS LEADERS
- CrossFit founder to sell company after resigning as CEO over protest remarks
- SQUASH THE BEEF
- Meatless burger maker sees its big shot as America’s meat supply struggles
- Bed Bath & Beyond laying off hundreds of NJ, Florida workers
- LET THEM EAT CAKE
- Why Costco is suspending sales of a beloved product
- ROUND UP BILLIONS
- Bayer reaches massive settlement over weedkiller
- LIGHTS, CAMERA, MASKS ON
- Alamo theaters to reopen with coronavirus measures
- NO NUTRIENTS
- Vitamin chain GNC files for bankruptcy; may close 1,200 stores
- UNIVERSAL LAYOFFS
- Orlando theme park employees axed weeks after reopening
- SEGWAY TO SOMETHING ELSE
- Segway to quit making iconic 2-wheel scooter
- Snack company to pay $5K in cash, merch for eating cheese
- Whole Foods bottled water has high arsenic levels: Consumer Reports
- Amazon cracks down on counterfeiters selling phony products
- Luxury retailer reopens flagship store after coronavirus shutdown
- Travelers to these states may be required to self-quarantine when visiting from other states
- Inmates got coronavirus relief checks, and IRS wants them back
- PRODUCT RECALLS
- Toyota recalls gas-electric hybrids for engine stall problem
- US alleges Regeneron used drug charity to pay kickbacks
- McDonald’s ordered to supersize health measures as employees win ‘dog diaper’ lawsuit
- SBA could release names of PPP loan recipients by early July
- US economic recovery from coronavirus pandemic will take ‘some time,’ Fed’s Evans says
- Bubba Wallace ‘relieved’ he wasn’t hate crime target, calls response ‘frustrating’
- 24-year-old CEO beats Trump’s pick in North Carolina race for Meadows’ seat
- HEALTH CARE TECH
- Melinda Gates: This is who ‘deserves’ virus vaccine first, not ‘highest-bidding companies’
- Safety regulators probe serious Tesla problem after slew of driver complaints
- Ocasio-Cortez takes victory lap after primary blowout: ‘Their money couldn’t buy a movement’
- Soccer teams turning to virtual ‘fan tokens’ to raise money
- This federal law could add obstacle for thousands trying to reenter workforce
- Elizabeth Hurley confirms death of ex Steve Bing in heartbreaking tribute
- PERSONAL FINANCE
- Hurting financially during the COVID-19 crisis? 3 tax breaks that can help
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus –
Where Business, Politics and Investing Can Meet
According to CNBC tonight is the following.
- Many Wall Street analysts are warning their clients that a Biden presidency will not be good for the stock market.
- The former Vice President and presumptive Democratic nominee has pledged to roll back President Donald Trump’s signature tax cut legislation, which has boosted corporate profits.
- “This to me is a Biden move,” CNBC’s Jim Cramer said Wednesday as the market sold off. “When I see across the board selling today, that’s Biden … he sounds like another president that you get that is not favorable to capital. If that’s the case, I want to have a little cash.”
- Looking at data going back to 1951, Bank of America found that when the White House flipped from Republican to Democrat the S&P 500 underperformed over the following three months compared with when a Republican replaced a Democrat in the Oval Office.
“As Joe Biden’s lead over Trump in national and battleground polling has widened, several Senate races have become closer. We are changing our call and now predict the Democrats will take the Senate,” financial advisory firm Signum Global Advisors said on Tuesday.
Note that in the state-based data in the video above, the margin is much tighter in the key battleground states reported. It is often in the margin of error. Given that Democrats are often over-sampled in such polls, at the state level it may be a jump ball or an edge to incumbent Trump.
“Survey participants continue to think a Democratic sweep would be a negative event for the stock market, but see a Senate that’s tied between Republicans and Democrats as a neutral event for the stock market,” RBC found in its survey.
What these left-of-center sources aren’t saying is which side of the political aisle they are putting their thumb on the scales. Polling in 2016 were clearly wrong on their top-lines on numerous occasions, as the general election victory of Donald J. Trump reflected.
See the report linked below for added insights.
While the revelations of the Obama-Biden White House and FBI attempts to unseat President-elect and then President Trump are mostly being covered in center and right of center news sources now, when the general election spending opens up, expect the Trump Campaign to hammer at apparent corruption by the prior administration.
Additional insights are in the following.
Related and Recent Reports:
Manufactured Housing Industry Investments Connected Closing Equities Tickers
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That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
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