Supreme Selloff as Election Uncertainty Is Off the Charts

[Click to view in browser](. Sep 21st 2020 Dear InvestingChannel Reader: Stock index futures slumped overnight as COVID-19 hotspots flare across Europe and after the death of Supreme Court Justice Ruth Bader Ginsburg threw another wrench into contentious presidential elections. While COVID-19 in Europe is forcing another round of preventative measures (U.K. pubs have been ordered to close at 10:00 p.m.), the battle to select the next Supreme Court Judge will likely shelve any further fiscal stimulus talks until after the election. Meanwhile, financials have been awarded a seat on the supreme toilet Monday following reports that JP Morgan, HSBC, Deutsche Bank, and a handful of other major banks continue to profit from criminal networks engaged in illicit dealings and money laundering. However, energy is the weakest sector after crude oil shed 5% on demand concerns. Industrials and basic materials are also leading the market lower. Technology, which is down just .5%, is the best performing sector Monday. Oracle (ORCL) is helping the tech sector, and Walmart (WMT) is ticking higher, on reports the U.S. Government has given tentative approval for a deal that would provide Oracle and Walmart stakes in TikTok ahead of a TikTok IPO. However, it is unclear whether the Chinese government will approve the terms and conditions of the proposal. Nevertheless, an order that would have prevented downloads of TikTok in the U.S. has been pushed back to Sept. 27th. Treasury bonds are benefiting from risk-off sentiment, but gold plummeted $55 to less than $1,900 on the heels of a sharp jump in the U.S. dollar. The S&P 500 is off 75 points, but 20 points from session lows. CBOE Volatility Index (.VIX) took a stab at the 30 level and is up 2.67 to 28.50 amid heavy trading in the options market. 11.8 million calls and 9.1 million puts have changed hands into midday Monday. The economic calendar is light today and tomorrow, with a report on Existing Home Sales due Tuesday morning. Meanwhile, the House will pass a spending bill today that will fund the government through Dec. 11th, according to CNBC. However, investors are likely more concerned about the relentless uptick in COVID-19 cases across Europe, as well as the heightened uncertainty about elections as Democrats and Republicans draw battle lines over the selection of the next Supreme Court Justice. Meanwhile, here are a few other stories that caught our attention: - [Oil Prices Fall 5% as Economic Outlook Dims With Higher COVID-19 Cases]( - [What’s Next for the Supreme Court]( - [Dollar Jumps as Stocks Fall; Rising COVID-19 Cases Dent Risk Appetite]( - [Dollar Weakness or Dollar Crash?]( - [Founder of GM Electric-Car Partner Quits Amid Fraud Allegations]( - [Has AstraZeneca Lost the Lead in Race for Coronavirus Vaccine?]( - [Oracle and Walmart Announce Tentative U.S. Government Approval to Acquire 20% of Newly Formed TikTok Global Business]( - [Bank Shares Slide on Reports of Rampant Money Laundering]( - [Cannabis Could Help Fight ‘Superbugs,’ Study Suggests]( - [The Bill for America’s $50 Trillion Gluttony of Inequality Is Overdue]( [What Is the State of the Options Industry?]( 2020 has been a year unlike any other. But what are the takeaways for options investors? To find out, watch this exclusive, free webinar — The State of the Options Industry — presented by OIC. [Sign up now to watch for free.]( Sponsored Peddling Through the Pandemic [Peloton’s Stock Rises Benefits Despite COVID-19]( [(WhaleWisdom)]( The stock has experienced impressive growth over the past six months, after a brief dip in February 2020. [Click here to read more.]( Buy the Dip? [Ingersoll Rand Could Be Top Industrial Business in Coming Years]( [(InsiderMonkey)]( The upside will come from synergy execution as well as from an improvement in the underlying margin structure of an under-managed Ingersoll Rand compression business. [Click here to read more.]( [In-Depth Market Analysis Delivered Straight To Your Phone]( With Covid-19 completely upending economies and markets it is becoming harder and harder to separate the important updates from the noise. Now with perspectives from our team of experts in equities, forex and commodities you won't have to. Get in-depth analysis on the markets now. Download the FREE app from [Android Play Store]( or [iOS App Store.]( Sponsored Stock Wars: [Ford Vs. General Motors Vs. Tesla]( [(Benzinga)]( Looking at look at two massive, historic American automakers and the relative newcomer nipping at their heels. [Click here to read more.]( Is That the Weed Talking? [Musk Says Record Tesla Vehicle Deliveries Possible in Third Quarter]( [(StreetInsider)]( The company has a chance to deliver a record number of vehicles in the third quarter, the U.S. electric carmaker's Chief Executive Officer Elon Musk said in an internal email. [Click here to read more.]( [Did Gold and Silver Just Set a ‘Bear Trap’?]( by [SilverDoctors]( After Months of Consolidation, Everybody’s Now Super Bearish On Gold and Silver [Read more.]( [This Junior Minor has struck Gold]( Sponsored by [.]( Gold is seeing some serious momentum buying on the heels of the Labor Department report that 884,000 Americans filed for first-time Jobless claims. Which Gold stocks are yet to move off this news? [Click here to learn more and find out why this Junior Explorer is gaining serious traction]( [Bitcoin Is Poised to Rally and Only One Thing Holds It Back]( by [HedgeAccordingly]( BTC broke the $11,000 level and it is currently correcting lower towards key supports. [Read more.]( Copyright 2020, InvestingChannel, All Rights Reserved | [Privacy Policy]( [InvestingChannel, Inc.]( P.O. Box 118 New York, NY 10018. To unsubscribe, [click here]( [Link](