This week in Trumponomics: Assessing President Biden

President Trump is officially the underdog in the 2020 elections.

Before the coronavirus arrived, Trump’s reelection bid looked reasonably solid. Unemployment was extremely low, incomes were rising and the stock market hit one record high after another. Many voters who didn’t like Trump personally could still say they felt better off under him. And as the 77-year-old Joe Biden emerged as the Democratic nominee, Trump faced a gaffe-prone opponent who arguably maked the 74-year-old incumbent seem young by comparison.

Now, however, Trump is in the worst skid of his presidency, with reelection slipping away. Trump’s faltering handling of the coronavirus crisis and the patchy efforts to control it by governors and mayors has pounded Trump’s approval rating and turned swing voters against him. A New York Times poll this week placed Biden ahead of Trump by 14 points nationwide, the widest lead so far for Biden in any major poll.

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Will a president Joe Biden ruin your stock portfolio?

Signs are starting to emerge that the stock market is getting a little worried about how a president Joe Biden would impact corporate profits and by extension the valuations on equities.

“I think it’s [the election] starting to matter a little bit more to daily market performance. I would say really over the past few weeks as we’ve seen the betting odds increase of a Democratic sweep. So we’ve started to hear more discussions around what that means for corporate taxes and as a result, how we should be thinking about our earnings expectations further out. I think there’s also a thought around sector implications. Could we see slightly higher regulation for certain sectors in a Democratic sweep?,” explained JPMorgan Asset Management global market strategist Gabriella Santos on Yahoo Finance’s The First Trade.

The former vice president is currently ahead of President Trump in the presidential race by a whopping

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Most investors now expect Biden to beat Trump, but view it as bearish for stocks

Most U.S. equity investors now expect presumptive Democratic nominee Joe Biden to defeat President Donald Trump in the November election, according to a new survey from RBC, an event that will also be bearish for stocks given the former Vice President’s policy stances.

According to the survey of 107 institutional investors, 63% of investors expect Biden and the Democrats to win in November. The data represent a sharp reversal from Wall Street’s sentiment before the COVID-19 pandemic, which showed markets consistently pricing in Trump’s reelection.

Democratic presidential candidate Joe Biden speaks about reopening the country during a speech in Darby, Pennsylvania, on June 17, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

Along those lines, investors anticipating the president’s victory fell substantially for the second consecutive survey, RBC noted. Presently, only 37% see a Trump re-election — down more than half from the

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Biden outraises Trump for month of May amid coronavirus, George Floyd protests

Democratic presidential candidate Joe Biden has outraised President Trump for the first time this year even as the coronavirus pandemic continues to hit the United States, and George Floyd protests began. 

The former vice president pulled in $80.8 million for the month of May, topping Trump, who pulled in $74 million. 

May was the first month Biden has jointly fundraised with the Democratic National Committee, allowing him to compete on even footing with the president, who has been jointly fundraising with the Republican National Committee (RNC) for months. 

Despite besting the president in total fundraising figures, Biden still lags far behind in cash on hand totals. Trump’s cash on hand equals a staggering $265 million, compared to the less than $150 million in Biden’s coffers. 

According to the Trump campaign, the president has pulled in over $800 million for this election cycle, nearing the $1 billion figure campaign manager Brad

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‘We are going to see a down in the gutter type’ Trump and Biden presidential campaigns: analyst

If President Trump’s performance at his first rally in months this past weekend in Tulsa was any indication, it’s going to be a very front and center backyard brawl for the presidency with challenger and former Vice President Joe Biden.

Trump took dead aim at Biden, slamming him for his frequent verbal gaffes, policy proposals (namely of higher taxes) and perceived mistakes in a four decade plus tenure in D.C.

“I do think we are going to see a down in the gutter type campaign between now and November. I do think on President Trump’s side, he is going to try and lead with anti-China issues. The market is going to try to decide how much of this is rhetoric and how much is this about him trying to get re-elected. I think the market is going to respond most to the China rhetoric from Trump. And then on the

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