Daily Market Commentary

October 30, 2020

The U.S. economy's record third-quarter surge has already given way to a more moderate pace of growth, with a fresh jump in coronavirus infections and an extended deadlock over further stimulus threatening to weigh on activity.

Americans' incomes increased in September by more than expected, boosted by employment gains and helping to propel consumer spending at the end of the third quarter.

Joe Biden has put American companies on notice: he's coming for their tax breaks, a promise with the potential to dent profits just when they're showing signs of revival. Wall Street firms have convinced themselves the position is more campaign slogan than policy pledge.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy, or when to buy or sell.

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