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Wall Street feels bullish on Biden

Joe Biden’s widening lead in polls is providing a bullish cue to investment strategists: Wall Street now sees less chance of a contested election, and more chance of a "blue wave" — Democrats taking the House, Senate and White House — and the hearty stimulus that could follow.

Why it matters: A clear-cut Democratic win would "provide certainty to markets that have been nervous about election risks," Bloomberg reports, citing strategists from Citigroup to JPMorgan Chase.


  • Shares of alternative energy companies, which analysts expect to prosper from policies under a Biden administration, climbed sharply after the Trump-Biden debate, per Reuters.

The Business cover of Thursday's N.Y. Times had the headline, "Wall Street Takes a Turn For Biden," with the online version: "Wait, Wall Street Is Pro-Biden Now?"

  • "[I]nvestors are of the view that a 'blue wave' victory ... represents the best chance to get another large injection of federal money into an economy that continues to struggle."

But keep your eye on the ball! Goldman Sachs Portfolio Strategy Research told clients Friday night in the US Weekly Kickstart: "a vaccine is more important than the election which is more important than 3Q results."

  • "Investors are focused on the implications of a 'blue wave' election ... However, the vaccine represents a more important factor than the election result for the path of equities. Our assessment of both vaccines and treatments remains optimistic."

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Venture capitalists invested a record $288 billion in the first half of 2021

Venture capitalists invested $288 billion in the first half of 2021, an all-time record, per Crunchbase.

By the numbers: Venture capitalists invested $140 billion into U.S.-based startups in the first half of 2021, anall-time record, per Ernst & Young. At that pace, the 2020 total should be surpassed in a matter of days.

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What they're saying: "It is unequivocal that human influence has warmed the atmosphere, ocean and land," the report stated.

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Top Biden adviser Anita Dunn departs White House today

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Why it matters: Dunn is one of the small handful of aides in the Oval Office who preps Biden before any major appearance. She helped place women in senior roles throughout the West Wing.

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