Stock Market Futures: Dow, S&P 500, NASDAQ Rally After Biden Super Tuesday Win – By Arthur Villasanta (IB Times) / March 4 2020
KEY POINTS
- Wall Street still favors a Joe Biden presidency to one by Sen. Bernie Sanders
- The battering taken by equities won’t likely occur Wednesday after Wall Street took heart in Biden’s Super Tuesday win
- The COVID-19 outbreak at the heart of Wall Street’s ongoing woes continues to rage, however
Wall Street appeared relieved at former vice president Joe Biden’s unexpectedly huge win on Super Tuesday with a rise in stock futures heralding a recovery Wednesday from the equities battering of the previous day.
Biden’s astounding comeback win dimmed the chance democratic socialist senator Bernie Sanders from Vermont would win Super Tuesday in a walkover, cementing his chance of becoming the presidential nominee of the Democratic Party. Sanders’ socialist agenda, which includes heavily taxing the rich, is widely opposed on Wall Street.
Biden’s big win saw futures on the benchmark S&P 500 expiring in March increase more than 1% after the index plummeted 2.82% Tuesday as part of a wider market rout. The welcome uptick erased a loss of as much as 0.7% and came after Biden won eight states in the Super Tuesday delegate race. Futures on the Dow and the NASDAQ both gained more than 1.2%.
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