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 Democratic challenger Joe Biden is ahead of incumbent Donald Trump by 10%, according to a new general election poll from Rasmussen Reports.While a potential Biden presidency could pose some challenges for investors, Cantor Fitzgerald analyst Pablo Zuanic said the Democratic platform is good news for U.S. cannabis stock investors.Full Federal LegalizationThe Biden campaign released a 100-page document outlining the Democratic Party platform this week, and Zuanic says there are multiple bullish takeaways for U.S. multi-state operators, or MSOs: 1. Democrats support full federal legalization of medical marijuana. 2. Democrats support individual states' decisions regarding the legality of recreational marijuana. 3. Democrats plan to decriminalize marijuana use and reschedule the drug federally.Zuanic said a Biden victory would go a long way in pushing this marijuana agenda forward, but control of the Senate will be key.For investors, the Democratic platform is bullish for Acreage Holdings Inc (OTC: ACRGF) given the structure of its contingent buyout deal with Canopy Growth Corp (NYSE: CGC), Zuanic explained.Canopy is likely better positioned to be an early winner in the U.S. market than its Canadian legal producer peers.In addition, if Democrats pass the STATES Act, Zuanic said it could open the floodgates for legalized cannabis banking services and alleviate and significantly improve the financial situation in the U.S. cannabis space.Finally, federal legalization of medical marijuana could likely trigger a wave of consolidati
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 Stocks rose Friday, and the Nasdaq Composite hit yet another record high, after Gilead Sciences announced that its remdesivir treatment reduced the risk of death for Covid-19 patients, based on new data from the company.
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 The stalled nomination of Judy Shelton, President Donald Trump's controversial pick for the Federal Reserve, got a potential boost Friday when the Senate Banking Committee announced a July 21 vote on her nomination. Shelton's bid has languished since her confirmation hearing in February amid talk she didn't have enough committee support. Shelton, who was an informal Trump adviser during his presidential campaign, has been a long-time advocate for some form of tying the dollar's value to gold. She faces unanimous opposition from Democrats and some Republicans were on the fence. The committee will also vote on a second Trump Fed nominee, Christopher Waller, the director of research at the St. Louis Fed. Waller is expected to be confirmed easily.
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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 U.S. stocks trade mostly higher Friday.
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U.S. oil futures climbed Friday, reducing their losses for the week even as the spread of the coronavirus pandemic continued to threaten a recovery in the economy. Crude prices got a boost for the session, in part due to the "upbeat COVID-19 vaccine and treatment news" and a softer dollar, but U.S. benchmark prices remain "anchored below the $41 level and will likely struggle for any major moves" until after next week's OPEC Joint Ministerial Monitoring Committee meeting, said Edward Moya, senior market analyst at Oanda. "The demand outlook risks warrant a discussion for OPEC to consider extending production cuts into August," he said, in a note. August West Texas Intermediate oil rose 93 cents, or about 2.4%, to settle at $40.55 a barrel on the New York Mercantile Exchange. For the week, prices based on the front-month contract fell by 0.2%, according to FactSet data.
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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Wheat futures climbed Friday, on track to settle at their highest level since April, after the U.S. Department of Agriculture reduced its outlook for 2020/2021 global wheat supplies by 2.9 million tons to 1.066 billion and said "larger beginning stocks are more than offset by reduced production." In its monthly World Agricultural Supply and Demand Estimates report, the USDA also lowered its global ending stocks forecast by 1.3 million tons to 314.8 million but said that figure remained "record large," with China accounting for 51% of the total. September wheat rose 8 1/2 cents, or 1.6%, to $5.33 1/2 a bushel. A settlement around this level would be the highest for a most-active contract since April 23, according to FactSet data.
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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American Airlines Group Inc. is threatening to cancel some orders of the Boeing Co. 737 Max jet due to financing troubles, The Wall Street Journal reports. American Airlines ordered 17 of the planes for delivery this year, but has struggled to secure the money to pay for them. With travel halted for many consumers due to the coronavirus, airlines and other companies in the travel industry have been under pressure. United Airlines Holdings Inc. announced this week that it could furlough 36,000 workers in October due to diminished demand. American Airlines stock stock has plummeted more than 60% for the year to date. Boeing shares are down 46.3%. And the Dow Jones Industrial Average has slumped 9.5% for the period.
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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