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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‘The market is getting way ahead of itself now:’ portfolio manager

“We certainly believe that the market is getting way ahead of itself now,” Alex Pire, head of client portfolio management at Seeyond, told Yahoo Finance. “There is this sort of cognitive disconnect between the way the market is functioning and what we’re hearing about the economy.”

On Thursday the S&P 500 (^GSPC) was about 29% above its March 23 low, while the Nasdaq Composite (^IXIC) erased its 2020 losses to close positive for the year. Paypal (PYPL), Peloton (PTON), and Twilio (TWLO) all touched new highs following their quarterly results.

“A lot of the companies that have been doing well are the kinds of companies that you would expect to do well in an environment where we’re all stuck at home,” said Pire.

He notes markets are a forward-looking mechanism, however companies have been giving little guidance due to the pandemic.

“Most companies are removing guidance. The only guidance that

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The 5 Very best Stock Industry Books For A Winning Portfolio

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