Bloomberg Businessweek
Biden’s Disastrous Debate Accelerates Doubts Over Candidacy
Jun 28, 2024
Guests including Bloomberg's political news director and opinion columnist analyze Biden's debate fallout, US PCE data, mid-year report for US stocks, tight labor markets, and market close. Topics cover post-debate poll results, potential presidential candidates, economic indicators, Fed's actions, immigration impact on labor supply, AI's influence on companies, and asset allocation considerations post-debate and pre-election.
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Quick takeaways
- Long-term economic focus noted post debate, with potential implications for fiscal stimulus and Fed policy.
- Immigration policies and trade changes could impact prices and economic growth, emphasizing the need for monitoring developments.
Deep dives
The Market Reaction To the Presidential Debate and Its Impact on Asset Allocation
The debate did not significantly alter asset allocation strategies considering the expected election outcome. Long-term focus on economic issues noted. Short-term trades may be influenced, for instance, healthcare and credit card company stocks saw gains. Fiscal stimulus and potential changes in the Fed chair were highlighted as key considerations for traders.
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