The market is very happy with the results of the presidential election today. Why? It’s all about taxes. It looks like the Republicans will hold the Senate. If that’s the case, the corporate taxes stay low and that’s good for stocks.
Of course, it also makes a new stimulus package less likely, which is bad for the average person.
It was a wild night, but the shift from red to blue was predictable. I noted this in the Newport Beach Chamber’s 2021 Business Outlook Session (even thought I doubted it last night for sure.)
