Today’s Top Stories From the Breitbart News Desk

[Maganomics Daily]( Today’s Top Stories From the Breitbart News Desk The U.S. stock market soared today, even as it remains unclear who will eventually be president. What’s more, it seems likely we’re in for a long, vicious fight over ballot counting and recounts. Isn’t the market supposed to hate uncertainty? What’s going on? One reason for the rally may be that, despite all the sound and fury around the election, there was no blue wave. Even if Biden winds up in the White House, he’ll have to contend with a Republican Senate. That will prevent the Democrats from enacting radical Green New Deal schemes or destroying private health insurance. The Trump tax cuts are safe. The extremely destabilizing ideas Democrats promoted – expanding the Supreme Court or admitting new states to create Democrat Senate seats – are off the table. The Senate can refuse to confirm radical judges. While a blue wave would have made a huge stimulus bill more likely, much of the spending would likely have been wasteful and not that helpful to the economy. Now that Democrats will have to negotiate any bill with Senate Republicans, it’s likely it will be more narrowly tailored to generate the biggest economic bump per buck of spending. [Banks Preparing for Major Devaluation of the U.S. Dollar]( The lowered expectations for a large stimulus package boosted the U.S. dollar, which rose against a basket of currencies today. The dollar moved higher against the yen, the pound, and the yuan. The euro, however, gained against the dollar, perhaps on news that the U.S. trade deficit fell in September. There’s also the incumbent-company effect. The big companies listed on the stock exchanges are those that succeeded in the status quo. A divided government means there will likely be less disruption of the status quo than if one party were free to pursue its agenda unchecked. That benefits Big Tech – which explain why the Nasdaq was the best-performing of the big indexes. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Carney: Why the Market Is Soaring amid Electoral Chaos]( The stock market supposedly hates uncertainty. So why is it soaring after an election night that upended expectations, humiliated polls, and created conditions for a drawn-out fight over ballot counting that could last for weeks? The Nasdaq Composite was up 4 percent Wednesday morning. The S&P 500 rose nearly 3 percent. The Dow Jones Industrial Average pushed up 2 percent. This is a very big day for investors and a very unexpected result following such an unexpected election night. One plausible explanation is that the market does not loathe uncertainty as much as people think. When the uncertain future has potential upside as well as downside, investors risk missing out on gains if they sit on the sidelines. [[Click here for more]( Recommended Link [Crazy trading method can pay out far MORE than stocks]( [image]( If you think these huge trades are options – they’re not. Even better, these trades can cost 25¢… 10¢… even as little as ONE PENNY a pop. PLUS, an elite group of our readers just saw a 19¢ recommendation soar as much as an extraordinary 5,100%. And, thanks to an obscure loophole in SEC Rule 30.52… You can place these weird trades right from your brokerage account. [Here’s a quick video that reveals what these trades are… AND how you can get your hands on the #1 trade for right now]( -- IN OTHER STORIES… [Carney: September China Trade Deficit Falls to Lowest in 8 Years]( The trade deficit in goods from China fell to $29.672 billion in September, slightly below the August figure. Imports from China totaled $41.2 billion in the month, according to data released by the Commerce Department Wednesday. That’s a high level of imports, but well below the pre-tariff levels and around where they stood last year. On the one hand, that suggests that we are not making much progress in reducing our reliance on Chinese goods. On the other, it suggests demand has recovered from the pandemic lows. [[Click here for more]( [Uber, Lyft Expected to Prevail in California Gig Economy Vote]( Ride-sharing apps such as Uber and Lyft are expected to prevail as California counts votes on Proposition 22, a ballot measure supporting the gig economy that exempts drivers for app-based transportation and delivery companies from being classified as employees instead of independent contractors. [[Click here for more]( [US Formally Exits Paris Climate Agreement]( We’re finally out. Just a day after the 2020 election, the United States on Wednesday formally left the Paris Agreement, a global pact it helped forge five years ago to avert the threat of catastrophic climate change. The move, long threatened by U.S. President Donald Trump and triggered by his administration a year ago, further isolates Washington in the world but has no immediate impact on international efforts to curb global warming. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Treasurys Are the Benchmark for Everything]( The yield on the 10-year Treasury bond is the most common benchmark in the world… [[Click here for more]( [Prediction Fulfilled: Market Volatility With U.S. Election]( The market is following historical precedent… [[Click here for more]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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