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Stimulus Uncertainty & Market Trades Now…

Listen to “Stimulus Uncertainty Still Affecting Markets – Nick Santiago 10-20-2020 #141” on Spreaker.

 

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1. Last night, I saw that the rapper, 50 Cent, is now endorsing President Trump due to the Biden tax plan. Many people are looking at this very closely. I have mentioned this on the show numerous times. People making over 400K a year are going to be hammered with a 16% tax increase. That plan would crush small businesses and many entrepreneurs. Plus, if the corporate tax rate is changed to 28% from 21% that would cause many foreign companies to leave and do business elsewhere.

2. Yesterday’s stock market was all about the stimulus bill, but we have not heard much about it today. Supposedly, Treasury Secretary Mnuchin and Speaker Pelosi are talking today, but we have not heard any details yet. We are just 2 weeks away from the election, so if there is a deal to be made before the election it must be made soon. Overall it won’t matter in the long run, but for the short run it’s having an outsized impact. States won’t start opening up until after the election. It’s all about fear, not science as Governor Andy Cuomo

3. Gold and silver a little pop. Gold futures up a little. Miners and junior miners up a little. Not a bad day there. Just trading in line with the market. Doing the sideways dance. Some more