Why This Election Cycle Could Be Good for Stocks

Wall Street is brushing off a larger-than-expected first-quarter GDP reading

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OPENING VIEW     4/29/2020
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Earnings, Remdesivir Update Send Stock Futures Soaring By Patrick Martin Share On Dow Jones Industrial Average (DJI) futures are signaling a big boost ahead of a jam-packed news day on Wall Street. Earnings season is in high gear, with both Boeing (BA) and Alphabet (GOOGL) sharing notable reports. Meanwhile, futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are moving higher as well. Elsewhere, investors are weighing the initial reading of first-quarter gross domestic product (GDP) that showed a larger-than-anticipated 4.8% contraction. However, stock futures shook off those results after biotech Gilead Sciences (GILD) shared upbeat data on its coronavirus treatment, remdesivir. Later today, the Federal Open Market Committee (FOMC) meeting will wrap up, with Fed Chair Jerome Powell set to give remarks shortly after. Continue reading for more on today's market, including:  Schaeffer's Senior Quantitative Analyst Rocky White breaks down how stocks do during election years. This sentiment signal hasn't flashed in 11 years.  Plus, Starbucks same-store sales take a beating; Spotify set to soar on paid subscriber bump; and auto giant Q1 loss doubles up. >> Continue reading...
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