Instant View: U.S. stocks tumble again as election looms, virus spread balloons
October 28, 2020Peter Cardillo on Global Market Trends | ET Now
October 29, 202009:16 ET – The 10-year Treasury yield is stable at 0.779%, in a sign investors don’t think much of the stronger-than-expected 3Q GDP report, says Spartan’s Peter Cardillo. “The 33.1% growth is great for the headlines, but the 4Q is a different story,” he tells WSJ. “Without help, it will be a double-dip recession.” Even the weekly jobless claims, which also beat expectations, is being shrugged off by investors given the uncertainties around next week’s elections. If Joe Biden wins and Republicans still control the Senate, “there’s no reason why Republicans will help him passing a big stimulus package,” Cardillo says.