Finance bro Adam Turnquist tells Politico that the S&P 500’s recent gains strongly indicate that Vice President Kamala Harris will defeat convicted felon former President Trump next week, based on past patterns in which a climb favored the incumbent party 20 of the last 24 elections.
“The market’s making a call for Harris to win,” said Turnquist, chief technical strategist at the financial services company LPL Financial. “When there’s more certainty about the incumbent party winning the White House, we know for the most part the policies they’ve [installed]. There’s just a level of comfort that the market has with that certainty.” Turnquist points to the 2.3 percent drop ahead of the 2016 election that signaled a Trump win against both Hillary Clinton’s email server and Hillary herself. “You were laughed at for even thinking about it. But the market was right.”
The article then quotes from skeptics who say that it doesn’t matter because the S&P also climbed ahead of Trump’s defeat in 2020 and that the divided electorate isn’t as something something the stock market. And Trump spokesanimal Karoline Leavitt had her whole spiel that the Orange Jesus is dominating and blah blah blah. She didn’t however try the old “investors are pricing in a Trump win and that’s why the market is up” as apparently that line of horseshit is even too ridiculous for her.