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President Joe Biden’s performance in last night’s presidential debate was disappointing, causing panic in the Democrat camp. Meanwhile, former President Donald Trump repeated some lies on his record of cutting taxes and increasing prices during his first presidential term.
If repeated in a second Trump term, many economists worry that the more or less timetable could fuel inflation at a significant pace and add to the United States’ rapidly growing debt mountain. There was a slight decline in the markets.
What is happening: U.S. stocks were higher in pre-market trading on Friday and CNN’s Anxiety and Greed index remained in neutral shape for the second consecutive month as investors ignored the contentious presidential debate ruling the inside track cycle.
Buyers instead chose to focus on inflation – the most popular measure of federal stocks, the non-public consumption expenditure (PCE) price index is due on Friday – and the end of a powerful first half of the trading year.
“In the current environment, the path of inflation and interest rates, and whether the Fed can stick to a soft economic landing, will be more consequential than the election,” Keith Lerner, chief market strategist at Truist, wrote in a contemporary note.
Regardless of their other policies, each year under the three U.S. presidents, Barack Obama, Trump and Biden, the S&P 500 index has delivered annual returns of between 12% and 17%, Lerner said.
Market volatility continues to increase as we approach the end of an election year, but this race is unusual in that two incumbents are running for office. That would extend the typical year-end election holiday rally, said Ed Clissold, chief U.S. strategist at Ned Davis Analysis.
Buyers have bigger issues to worry about.
“The stock market’s behavior and investors’ reaction in the coming days will largely depend on the upcoming inflation data release,” Antonio Ernesto Di Giacomo, marketplace analyst at brokerage xs.com, said on Friday.
“The PCE reading on Friday will be decisive, providing important insight into the future of inflation and potential Federal Reserve actions.”
Markets are also keen on a strong end to the first half of the year – the S&P 500 is on track to finish the first six months of the year up 15%. A strong first half generally indicates the second half will be “very good,” Goldman Sachs’ Scott Rubner wrote in a fresh note.
Sector Clear: ERA’s major market indexes are little surprised by the Biden-Trump face-off, with positive sectors being more deeply affected by the election results, said Jonas Golterman, deputy chief market economist at Capital Economics.
For example, financial and effort coverage paths tend to have additional risks.
The US buck has also been reactive – an early CNN poll found that Trump was seen as the winner of the debate, hence the lead. This could be because Trump has reiterated his desire to impose 10% tariffs on all imports, which could potentially increase inflation and increase uncertainty over an interest rate cut.
eye on france:Around the Atlantic, buyers are much less optimistic about the emerging political opportunity.
French President Emmanuel Macron called off upcoming parliamentary elections after his centrist Renaissance party suffered a landslide defeat in the EU elections to the far-right opposition. Counting of votes for the first round of elections is still pending in France Sunday, second round on July 7.
France is running the largest budget deficit in the eurozone and is at risk of falling foul of new European Commission financial rules. Against that backdrop, markets are skeptical of populist insurance policies driven by events on the left and right.
“Political uncertainty is a near-term headwind for both sentiment (reflected through financial markets) and, now, activity,” wrote Katie Nixon, chief funding officer at Northern Believe Wealth Control. By July, “we can expect volatility in European equity and debt markets.”
While most EU indices were trading higher on Friday, France’s benchmark, the CAC 40, was 0.3% lower.
On Friday the gap between handovers on French and German government debt reached its highest level since the 2012 eurozone emergency, as investors worried that spending promised by France’s far-right party would exceed the country’s already tight budget. Abundant government debt will increase the mass.
CDK World is headed for brisk car sales in the hours after the Fourth of July. Auto dealerships deserve their own equipment to control everything from scheduling to information, and the Pile outage has paralyzed nearly 15,000 dealerships across North America since the last hour.
CDK said last Saturday that it had started to restore its equipment, but both car buyers and sellers are currently at a standstill. It has suggested several times that the treatment be brought in, only to say that its technicians would be out of payment for a week.
What you need to understand about the massive tool outage are documents from my CNN colleagues Ramishah Maroof and Eva Rothenberg.
What does CDK World do? CDK World supplies knowledge and generation to other car dealerships. Its technology is available through more or less 15,000 automobile dealerships across the US and Canada.
CDK operates other tools merchandise automobile vendors that are suitable for handling workflows such as maintaining information of negotiated offers, scheduling and talking about carriers. Not every broker uses CDK’s products anymore, and those that do will not value CDK for every dealership activity, although device outages have been a problem for many.
To protect customer privacy, customers’ key points are not written down on a piece of paper that simply sits on the table. Rather, details about offers and buyer appointments are stored in a server that is now impossible to access for salespeople suffering from outages.
Can I still buy a car or get my car repaired? Salespeople and repair workers who spoke to CNN say they have resorted to using pen and paper for the purchasing process, which has increased the amount of days it takes to purchase an automobile, according to Scott Campbell, a salesman at Capitol . Towne Buick GMC in Berlin, Vermont. He estimates the wait times have doubled or tripled.
Many buyers and service buyers informed CNN that they experienced lengthy delays.
When will CDK be back online? CDK World does not expect its systems to be online before June 30.
Why did the technologies go ill? CDK has mentioned that it is researching a shutdown, considering two upcoming cyber incidents have put its technologies to a standstill. The corporate has now not revealed who was behind the incidents.
Bloomberg previously reported that the company was in talks with an Eastern Europe-based hacker team demanding a ransom of millions of dollars to end the outage.
Walgreens is set to add a bigger selection to its roughly 8,600 locations across the U.S. as the company looks to reestablish the troubled pharmaceutical chain’s business, says my worker Jordan Walinsky.
The company did not announce any specific selection of pack closures, but it said Thursday it plans to close a “significant” number of underperforming stores across the United States as part of a multiyear optimization program .
CEO Tim Wentworth said in a call with analysts Thursday that “changes are imminent” for the roughly 25% of stores that are not winning and that Walgreens’ strategic assessment includes “closing a significant portion of these underperforming stores.” shall include.”
“We are at a point where the current pharmacy model is no longer sustainable and the challenges in our operating environment require us to look at the market differently,” he said.
