CNBC Fundstrat Global Advisors’ Tom Lee is calling for stocks to rally into year-end. It’s not dependent on any single election outcome. Rather, it takes into account three widely-talked about scenarios. Lee’s base case: Joe Biden wins with a blue wave due to his strength in the polls and betting markets. “That rally is roughly 10%,” the firms’ co-founder and
Reuters LONDON – Oil prices extended their rally on U.S. election day with a 3% gain as financial markets staged a broad recovery, though gains were capped by concerns over surging coronavirus cases around the world. Brent crude futures rose $1.13, or 2.9%, to $40.10 a barrel at 1437 GMT on Tuesday, while U.S. West Texas Intermediate (WTI) crude futures
CNBC How is Wall Street positioned for the election? Even Wall Street isn’t sure. For most of October, “buy the stimulus trade” was the main idea on Wall Street. After all, polls showed odds were good for a Biden victory that would likely entail some kind of large-scale stimulus. Investors were buying small-cap stocks, infrastructure plays and alternative energy sectors like
CNBC CFRA’s Sam Stovall acknowledges the market may feel like a rollercoaster over the next few weeks. But he believes any damage should be contained to November regardless of who wins the presidency. “Investors say ‘okay, usually by then we know who the president is, now we can try to organize our portfolios and our mindsets for the year ahead,’”
Fox Business Investors are having second thoughts about which election outcome may be best for the financial markets, according to JPMorgan. Wall Street, which typically likes gridlock in Congress since it thwarts major regulatory changes, now fears a Democratic and Republican split will delay stimulus efforts the economy badly needs. A Biden victory and Republicans retaining the Senate was previously thought of as
Reuters WASHINGTON/LONDON – America’s biggest oil and gas lobby group is ramping up its advertising spending ahead of the November election to persuade voters that natural gas is a climate-friendly fuel, according to ad buying data. The campaign by the American Petroleum Institute (API), targeted at younger voters and some tight congressional races, is part of a global battle by
CNBC Goldman Sachs is warning that the presidential election could see delayed results, and is therefore recommending that clients hedge their market bets through December in anticipation of heightened volatility through November. Goldman Sachs chief U.S. equity strategist David Kostin said several factors could delay the results beyond Nov. 3, including a rise in mail-in ballots as Covid-19 keeps people
Houston Chronicle GEORGETOWN, Guyana (AP) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade could make it one of the wealthiest in the hemisphere. A consortium comprised of ExxonMobil and partners, Hess Oil of the US and CNOOC of China began
By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling board of directors recommends appointment of Paal Kibsgaard as chairman The board of directors for Borr Drilling Limited (stock ticker: BORR), an international drilling contractor based out of Bermuda, has recommended former Schlumberger (stock ticker: SLB) CEO Paal Kibsgaard be appointed as the company’s new chairman, following a unanimous
From Reuters Proxy advisory firm Institutional Shareholder Services on Thursday urged Occidental Petroleum Corp shareholders to ask management to let them weigh in on board and governance issues as the company buys rival Anadarko Petroleum Corp.. The request comes one week after the takeover deal’s biggest critic, billionaire investor Carl Icahn, laid out plans to shake up Occidental’s board. ISS
By Tyler Losier, Energy Reporter, Oil & Gas 360 Kimmeridge’s candidates defeated, ending months-long battle PDC Energy, Inc., following its 2019 annual meeting of stockholders, announced today that CEO Barton Brookman, and directors Mark Ellis and Larry Mazza, all incumbent board members, have been re-elected based on a preliminary count of the vote. All three challengers, members of the
The Denver Post has reported new poll results for Colorado. The poll was an online survey of 800 registered voters conducted between Oct. 12 and 17, that included questions asking voters’ view of Proposition 112 and Proposition 74. The poll was commissioned by the University of Colorado and conducted by YouGov. The survey results reported by the Post include: 52%
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