Wall Street rallies as Biden enters the White House

Excerpt from:

Wall Street rallies as Biden enters the White House

By BEN WHITE and AUBREE ELIZA WEAVER – Politico Morning Money – January 21, 2021

Cumberland-Advisors-David-Kotok-In-The-News

Wall street greets Biden with a rally to record highs — As President Joe Biden took the oath of office, Wall Street hit new highs with major indices rising around 1-2 percent. Some of the reasons are obvious. Hope for fresh stimulus. A different and more aggressive approach to Covid-19 (see below on today’s executive actions). Fewer trade wars. Less general chaos flowing out of the Oval Office.

But it’s not just that. And it may not last. We asked some of our favorite traders and market strategists for their takes on Wall Street’s reaction to Biden. But first some context on just how well markets fared since Election Day…

Cumberland’s David Kotok: “Markets applaud order, good behavior and patriotic action including Pence and McConnell, not just Democrats. Chaos and dysfunctional disruption seems to be in retreat.”

Read the full story at Politico: https://www.politico.com/newsletters/morning-money/2021/01/21/wall-street-rallies-as-biden-enters-the-white-house-792889


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.