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Yahoo BusinessOct 30, 2020
3 "Strong Buy" Cannabis Stocks That Could Soar if Biden Wins Election
The cannabis sector is a fascinating topic. It's new, its legal status is shifting as society pushes the state legislatures, and that combination is creating opportunities for companies and investors alike. Which brings us to the disparate policy potentials of the major heading into the November election.To start with, the Republican platform simply does not prioritize cannabis legalization. The substance in illegal now, and Rs are not likely to change that any time soon. But - the Trump Administration has not been taking explicit anti-cannabis actions, and has allowed states which have legalized the drug, whether for medial or recreational use, to enact their own various policies. But it's clear that Federal-level legalization is not a priority for a Republican Congress or Administration.The Democrats take a different tack. Their party platform does call for three specific changes to the Federal government stance on cannabis: first, full legalization for medical use; second, remove of the drug from the list of Schedule 1 illegal narcotics; and finally, explicit support for individual states to set their own cannabis policy with Justice Department interference.As a result of these policy differences, a Democratic election victory should be viewed as bullish for the cannabis industry. "The formalized documentation of support for federal cannabis decriminalization via the Biden-Sanders Unity Task Force, a more recently pro-cannabis running mate in Sen. Kamala Harris, and the removal of the overall a

Yahoo BusinessOct 30, 2020
Nasdaq Hits Correction Mode, Dow Touches 200-Day Moving Average In Volatile Friday Trade
If there were any doubts left about whether the market would be "risk-on" or "risk-off" going into the election, Friday's selloff pretty much iced it. The toggle has switched to the off position.The late-week meltdown ignited after earnings from four of the five FAANGs that were mostly positive, but perhaps lacking in the guidance department (see more below). Combine that with the resurgence of COVID-19, the Senate adjourning with no more progress on a stimulus package, and the culmination of a long and contentious election season, and it's no wonder investors seem ready for a break. Even before FAANG earnings officially put things on ice, many investors showed signs of risk aversion ahead of the election. That made itself pretty clear with selloffs on Monday and Wednesday. Major indices suffered their worst week since March, and now people are openly making comparisons between this pre-election skid and the one we saw heading into the 2016 election.As noted this morning, keep an eye on futures Sunday night into Monday, and especially on Tuesday night as returns come in. Election night 2016 was a wild one for the futures market, featuring a steep plunge when it initially looked like results might be contested, followed by a meteoric rally when it became clear there'd be a victor without much fuss or muss.A wild ride could play out this time if things look testy by late Tuesday night. Or, if it looks relatively smooth, stocks could get a lift. It's arguably not so

MarketWatchOct 30, 2020
Key Words: The stock market has put in a top and an ‘enormous' bubble has already burst, says David Einhorn
An "enormous" bubble in tech stocks likely popped in September, putting the top in the market, hedge-fund manager David Einhorn warned in a letter to investors.

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Stock Market Today: Big Tech Beatdown Keeps Stocks in a Slump (Kiplinger)

MarketWatch MarketPulseOct 30, 2020
Stocks fall as Dow books biggest monthly drop since March as COVID cases rise
Stocks pared losses but still closed lower on Friday to end an ugly week on a down note, with the Dow Jones Industrial Average booking its biggest monthly drop since March as investors reacted to rising COVID-19 cases in the U.S. and Europe. Nervousness ahead of Tuesday's presidential election -- and the potential for an unclear or contested outcome -- was also seen contributing to increased volatility, analysts said, with all three major indexes seeing their biggest weekly declines since the worst of the pandemic-inspired selloff in March. The Dow fell around 157 points, or 0.6%, to end near 26,502, according to preliminary figures, while the S&P 500 lost around 40 points, or 1.2%, to finish near 3,270 and the Nasdaq Composite gave up around 274 points, or 2.4%, closing near 10,912. The S&P 500 ended the week down 5.6% and fell 2.8% for the month, while the Dow booked a 6.5% weekly fall and a 4.6% monthly drop. Friday's decline saw the Nasdaq turn negative for the month, falling 2.3%. The index was down 5.5% for the week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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Market Snapshot: Dow falls more than 300 points as Big Tech guidance stokes unease over COVID impact (MarketWatch)
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