WSJ: Tech-Stock Futures Fall as Democrats Lead in Georgia Elections

[My Pet Orangutan]

Source: Wall Street Journal

U.S. tech-stock futures tumbled Wednesday as investors bet that the Democrats were poised to take control of the Senate following early results from Georgia’s runoff elections.

Futures tied to the technology-heavy Nasdaq-100 index fell 1.7% on expectations that a Democrat-controlled Congress would lead to higher taxes and tighter regulations on tech giants. S&P 500 futures were down 0.3%.

Dow Jones Industrial Average futures rose 0.2%, while those tied to the Russell 2000, which tracks smaller stocks, jumped 2.7%. Both indexes are filled with companies beaten down by the coronavirus pandemic that stand to benefit from higher fiscal spending.

Big tech names were getting hardest hit. In premarket trading, Amazon, Alphabet, Netflix and Facebook were down more than 2%. “The negativity today is concentrated in these large cap, growth stocks, where, frankly, valuations are already quite high,” said Mike Bell, a global market strategist at J.P. Morgan Asset Management.

Read more: https://www.wsj.com/articles/global-stock-markets-dow-update-01-06-2021-11609926014

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[twodogsbarking]

1. I've been investing in the stock market for about 40 years.

I would call it a Ponzi scheme but it is more like a pyramid scheme.

[William Seger]

13. Trump thinks the stock market creates wealth

Wharton Business School, my ass. Every dollar someone takes out of the market is a dollar someone brought into it.

[Warpy]

30. I never got paid enough to invest

but the portfolio I inherited was started in the late 1940s. It's more like a casino, and just as impossible to know when to leave it on the table and when to cash in those chips and leave.

My dad followed the strategy of maximum diversification and invested for income, not rapid increase in share price. I've been through two crises since I inherited it and managed not to panic, since the income stayed the same even though the net worth cratered.

So every year I get a few bucks here and a few bucks there and it adds up to enough to live on.

My grandmother had stocks when the Depression hit, although not on margin. Many of the companies shuttered for good, but she was never left completely destitute, even though her income mostly dried up until Hoover was out and my mother found a job. By 1950, she was quite comfortable again.

[Maxheader]

2. The wingers left us with shit when Bush was gone...

Prime mortgage? Remember? 9 11? Iraq ?

And this time with an out of control pandemic..

Pass the laws liberals, 2000 bucks..

Clean up after the conservatives...again...

[still_one]

3. Typical WSJ hyperbolic bullshit. For one thing, stocks are generally overpriced, and for the most

part have been ignoring the impact and mishandling of the pandemic. The article itself mentions that valuations are already too high.

This is just a blip in the market dynamics

It is very likely that we will be seeing an additional 1400 dollar stimulus, along with insuring that states and cities will get the resources and funding they need, not only to combat the pandemic, but to rebuild the infrastructure. All of this will build the economy back, and the stock market will follow

[Escurumbele]

6. Its not only that, but when we have a Democratic government the economy booms

They are just sad that they won't be getting any gifts from the republicans and the thought that the tax breaks will be reversed, that the tax system will be revised to make sure they don't enjoy the loopholes left by republicans.

When will people understand that when the stock market is high it only means that those who have a lot are doing great, and those who do not have a lot are not getting any benefits from it. Economists have convinced people to think that if the stock market is up then it is good for everyone, and that is not the case.

[still_one]

8. I agree.

[sinkingfeeling]

4. Aww, isn't that sad?

[Boomer]

14. Amen!

I'm giddy at the thought of what she could do.

[nuxvomica]

7. It's encouraging that the losers are beneficiaries of COVID-19 restrictions

I think the taxing and regulation angle is a sideshow. The market obviously thinks the country will start returning to normal once the adults start dealing with this virus.

[ad121rome]

9. Reminder

Someone needs to remind Wall Street that Democratic administrations are always better for the market than any Republican administration.

[The Mouth]

11. The market as a whole, yes

but not so much for the super rich and big manipulators.

[AllaN01Bear]

10. will that mean going after micro$ofts monoply finaly ? the election of g shrub sr

stopped that in a hurry.

[IronLionZion]

12. It was propped up with stimulus and tax cuts

Stock market is not the economy. The economy and jobs have historically been better under Dem control. Now let's appoint some Biden judges and take back the courts too.

[ananda]

15. Break up ATT

and others

[Ponietz]

16. Water futures went down too you bloated ticks

[turbinetree]

17. I lost my retirement because of wall street and it was because of 9/11 and my airline went

to the banks / wall street to get money to carry us over, they said no, you are a employee owned company...............fuck wall street and the big banks............and yes I am still bitter ........... I want those 1.7 trillion dollar tax cut put back into the middle class and poor and have them pay their tax bill because some of these TECH companies paid zero taxes..............

[PatrickforO]

18. Wall Street is not Main Street, and I'm tired of Wall Street calling the shots

while everyday Americans suffer.

Yes, I own some stocks in my retirement fund. That's one thing. But the feckless deregulation and stupid tax cuts have created a monster that needs its teeth pulled. Warren is right about breaking up a few of those huge companies.

We could do that with the six companies that own our whole media, along with imposing a 21st Century Fairness Doctrine that takes social media into account and pulls the teeth of AM talk radio.

[onetexan]

19. BS. Dow is nearing 400 & Nasdaq is in the positive now.

[DinahMoeHum]

20. As of 11:30 am EST, the Dow as a whole is up 521 pts

So the tech stocks are (or were) taking a beating. Big fucking deal.
I think they're more upset over news of tech workers unions being formed at Alphabet (parent co. of Google) and other places in Silicon Valley.

[BadGimp]

21. Bt the DOW is up over 500 point atm.... so pppppfffffffftttttt

Suck it Righties!

[Squinch]

24. But look at what they choose to report! Murdoch is such a shit.

[disndat]

22. Probably

A great buying opportunity.

[Squinch]

25. Nasdaq is down about 20. The DOW is up 500.

[GentleAlien]

23. 'Too big to fail' mentality at work..

As we read on another thread "we live in a society, not an economy".

[orangecrush]

26. I tink

I'm going to cwy!

[groundloop]

27. Well, so much for the doom and gloom...... EVERYTHING is now up.

Despite some of my misgivings about the stock market and my belief that people who make a living trading stocks do nothing to advance our society, thanks to the American trend to force our retirement savings into 401Ks I, like many many others, am dependent on the stock market.

But yes, economies have historically done much better under Democratic administrations than GOPer administrations. And I have every reason to believe that trend will continue.

[DonCoquixote]

28. muahahaahaahaah

They wanted a divided government so they could continue to feed like pigs! I hope Senator Warren goes after Zuckberg and Bezos.

[W T F]

29. Nasdaq is now up, and the Dow is up over 500.....WSJ...Fake News!