The Day After

I’ll confess that I didn’t stay up too late to watch the returns. I’m not much for political prognostications. Instead, I like to focus on markets.

For whatever reason, the major tech stocks opened significantly higher this morning. Google, Amazon and Microsoft are all up about 4% while Facebook is up 5.5%. In contrast, the Dow is up just 0.5%. The Russell 2000 Index of small-cap stocks is down.

Both Uber and Lyft are up about 15% after California voted to classify app-based drivers as independent contractors.

This morning’s ADP payroll report showed an increase in private payrolls of 365,000. That’s for the month of October. Wall Street had been expecting an increase of 650,000. The big news comes on Friday when the government releases the official numbers.

Ansys (ANSS) reports after the close.

Posted by on November 4th, 2020 at 9:37 am


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